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CPO futures ends higher

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CPO futures ends higher Empty CPO futures ends higher

Post by Cals Thu 05 Jun 2014, 03:17

CPO futures ends higher
Business & Markets 2014
Written by Bernama   
Wednesday, 04 June 2014 20:06

KUALA LUMPUR (June 4): Crude palm oil (CPO) futures prices on Malaysia Derivatives Exchange rebounded to close higher, after the market rebounded, following a series of declines the past few days.

Phillip Futures Sdn Bhd Derivative Product Specialist, David Ng, said cheap prices prompted buying interest, ahead of the festival season.

"Strong performance on the soybean market during Asian hours and the lower ringgit, also supported the market," he told Bernama.

However, Ng added that the overall trend remained bearish and mounting inventories would most likely cap prices, going forward. 

At the close, June 2014 rose RM44 to RM2,440, July 2014 firmed RM48 to RM2,443, August 2014 added RM45 to RM2,432, and September 2014 soared RM48 to RM2,421 per tonne. 

Volume dropped to 42,354 lots, from 48,713 lots on Tuesday, while open interest decreased to 217,744 contracts, from 221,713 contracts yesterday.

On the physical market, June South rose RM20 to RM2,460 per tonne.
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