Palm futures up on positive sentiments

CRUDE palm oil (CPO) futures on Bursa Malaysia Derivatives closed higher yesterday on anticipation of a better export data which is scheduled for release today. A dealer said positive sentiments such as high soy oil prices also supported CPO prices.

June 2011 rose RM53 to settle at RM3,453 a tonne, July 2011 gained RM54 to RM3,391, August 2011 went up RM63 to RM3,360 and September 2011 jumped RM65 to RM3,350.

Volume dropped to 24,223 lots from Wednesday’s 29,486 lots while open interest climbed to 106,826 contracts from 106,652 previously.

On the physical market, June South rose by RM40 to RM3,440 from RM3,400 previously.

Source: Business Times

You can share this posts:

Leave a Reply