Palm Futures Down on Technical Correction

AFTER trending higher on Thursday on expectations of bullish export

for the coming Chinese New Year, crude palm oil futures prices finished

lower on Bursa Malaysia Derivatives yesterday on technical correction, a

dealer said.

January 2011 rose to RM158 to end at RM3880 a

tonne. Meanwhile, February 2011 fell RM26 to end at RM3,692, March 2011

shed RM14 to RM3,680 and April 2011 was down by RM12 to RM3,643.

The turnover dropped to 22,663 lots from 30,330 lots while open interests fell to 87,677 contracts from 89,907 previously.
On the physical market, January South rose RM10 to settle to RM3,730 from RM3,720 on Thursday.

Source : Business Times

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