CPO Futures Up on Soyabean News

KUALA LUMPUR: Crude palm oil futures contracts on Bursa Malaysia Derivatives closed higher yesterday, influenced by the prospect of a tighter supply for soyabean oil.

A dealer said a disappointing weather in Argentina has raised the probability of a tighter crop. 

March 2013 gained RM31 to RM2,506 a tonne, April 2013 rose RM29 to RM2,542 a tonne, May 2013 surged RM27 to RM2,566 a tonne and June 2013 was RM32 higher to RM2,586.

Turnover fell to 33,012 lots from 46,985 lots on Monday, while open interest slipped to 200,638 contracts from 214,842.

Source : Business Times

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