CRUDE palm oil (CPO) futures prices on Bursa Malaysia Derivatives closed
lower yesterday, taking its cue from external leads in the soybean oil
market, dealers said.
“Futures yesterday were traded in a tight range with a minimal drop,” said one of the dealers.
He said that traders were active on weekend profit-taking activities.
“Futures on the Dalian Commodity Exchange also declined amid lower crude oil prices,” he added.
At
close, the November 2010 contract dropped RM30 to RM3,040 per tonne,
December 2010 declined RM23 to RM3,058 per tonne, January 2011 decreased
RM24 to RM3,061 per tonne and February 2011 went down RM25 to RM3,061
per tonne.
Total volume fell to 14,397 lots from 20,472 lots
Thursday while open interest declined to 70,234 contracts from 73,639
contracts previously.
On the physical market, October South was RM10 lower at RM3,070 per tonne.
Source : Business Times
