Palm Futures Down Due to Last-minute Selldowns

KUALA LUMPUR: Crude palm oil futures contract prices on Bursa Malaysia Derivatives closed lower yesterday due to last-minute selldowns, a dealer said.

He said buyers were reluctant to hold positions on expectations of lower export data due today. May 2012 dropped RM20 to RM3,335 per tonne and June 2012 fell RM19 to RM3,340 per tonne.

July decreased RM16 to RM3,335 per tonne and August slid RM16 to RM3,324 per tonne. Volume fell to 23,210 lots from 32,797 lots on Tuesday while open interest improved to 127,696 contracts from 124,696 contracts.
On the physical market, May South improved RM20 to RM3,360 per tonne.

Source : Business Times

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