CRUDE palm oil (CPO) futures prices on Bursa Malaysia Derivatives
ended higher with investors covering short positions after Wednesday’s
losses, said a dealer.
Yesterday, CPO price broke the RM2,450
resistance level and the level will go up to RM2,500 level today, he
added.
“While we expect the uptrend to continue tomorrow, the
local CPO market however will closely monitor the soyaoil futures trade
on the Chicago Board of Trade tonight,” he added.
At close, June rose RM21 to RM2,493 per tonne, July added RM44 to
RM2,495, August increased RM41 to RM2,476 and September rose RM40 to
RM2,464. On the physical market, May South added RM20 to RM2,540 per
tonne.
Source : Business Times
