Palm Futures Down as Traders Stay Cautious

KUALA LUMPUR: Crude palm oil futures contracts closed at a four-month low yesterday as traders remained cautious and stayed on the sidelines, a dealer said.

He said traders were afraid to participate in the market after this week’s rout in commodities and ahead of export data. 

Spot month May 2013 declined RM30 to RM2,254 a tonne, both June 2013 and July 2013 lost RM26 each to RM2,271 and RM2,275 a tonne, respectively, while August 2013 fell RM27 to RM2,280.

Turnover declined to 38,934 lots from 40,241 lots on Tuesday, and open interest rose to 191,879 contracts from 189,179 contracts previously.

On the physical market, April South dropped RM30 to RM2,290 a tonne.

Source : Business Times

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