Palm Futures Dip as Investors Await Data

KUALA LUMPUR: Crude palm oil futures on Bursa Malaysia Derivatives closed lower yesterday on lack of buying interest, dealers said.

Most investors remained on the sidelines, awaiting the release of May’s palm oil export figures before taking up fresh positions, a dealer said.

Spot month June 2012 shed RM68 to RM3,072 a tonne and nearby month July 2012 decreased RM61 to RM3,109 while August 2012 shed RM67 to RM3,111 a tonne and September 2012 lost RM64 to RM3,108.
Volume grew to 27,252 lots, from 27,168 lots previously, while open interest rose to 102,739 from Tuesday’s 102,485 contracts.

On the physical market, June South went down RM50 to RM3,130.

Source : Business Times

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