CRUDE palm oil (CPO) futures prices closed higher in a technical
correction yesterday after a bearish trend yesterday, dealers said.
“Much
of these buy backs were due to market players taking note of the firmer
export data but still price rally seems to be curbed by risk appetite
given the euro zone debt crisis,” a dealer said.
June 2010 jumped
RM12 to settle at RM2,517 a tonne, July 2010 and August 2010 gained
RM16 each to RM2,488 and RM2,452 while September 2010 rose RM6 to
RM2,427.
Trading volume dived to 14,782 lots from 15,681 on Tuesday while open
interest was higher at 70,166 contracts from 68,481 previously.
On
the physical market, June South rose to RM2,560 a tonne from RM2,550 on
Tuesday.
Source : Business Times
