KUALA LUMPUR: Crude palm oil futures prices closed lower yesterday on persistent weakness in Chicago’s soyabean market despite positive numbers from cargo surveyors.

Phillip Futures derivative product specialist David Ng said cargo surveyors reported a 10 per cent increase in CPO shipment in the first 20 days of the month.

Spot month August 2014 and November 2014 eased RM13 each to RM2,373 and RM2,295 a tonne respectively, while September 2014 and October 2014 fell by RM7 each to RM2,325 and RM2,296 a tonne respectively.

Volume declined to 22,467 lots from 36,228 lots on Friday, while open interest fell to 236,005 contracts from 255,136 contracts previously.

On the physical market, August South was lower at RM2,390 a tonne.Bernama

Source : New Straits Times