Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives closed higher in a technical correction yesterday after a bearish trend on Monday, said dealers.

However, the overall market was weak. At the close, the CPO futures for August 2010 rose RM5 to close at RM2,555 per tonne, September 2010 gained RM14 to RM2,505 per tonne and October 2010 added RM12 to RM2,485 per tonne.

The November 2010 contract, however, was RM2 lower to settle at RM2,468 per tonne.

Volume slipped to 17,717 lots from 18,236 lots, while open interest eased to 67,931 contracts from 68,489 contracts on Monday.

On the physical market, August South was RM10 higher at RM2,560 per tonne from RM2,550 per tonne on Monday.

Source: Business Times