Palm Futures Rebound on Cautious Trading

KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives rebounded in cautious trading after weeks of remaining bearish.

A dealer said most of the players were awaiting the US Department of Agriculture’s report and Malaysian Palm Oil Board’s (MPOB) data to be released today.

August 2012 and September 2012 both increased RM6 to RM2,817 a tonne and RM2,827 a tonne respectively, while October 2012 added RM2 to RM2,865 a tonne and November fell RM2 to RM2,884 a tonne.
Volume declined to 20,741 lots from 28,933 lots, while open interest slid to 136,966 contracts from 144,956 contracts on Wednesday.

On the physical market, August South slipped to RM2,780 a tonne.


Source : Business Times

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