CPO futures close mostly higher on stronger soybean prices

Business & Markets 2013
Written by Bernama
Wednesday, 29 May 2013 20:32
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KUALA LUMPUR, May 29 (Bernama) -- Crude palm oil (CPO) futures
prices on the
Malaysia Derivatives Exchange closed higher today tracking stronger
soybean
prices and on expectation of easing stocks in the country.
"Prices edged higher in the morning but came off in the afternoon as
investors sold on negative global sentiment.
"The market also remained cautious ahead of key macro-economic
development,"
Phillip Futures Sdn Bhd Derivative Product Specialist David Ng told
Bernama.
June 2013 declined RM13 to RM2,359 per tonne, July 2013 and August
2013 rose
RM11 each to RM2,404 per tonne and RM2,399 per tonne, respectively
while
September 2013 gained RM17 to RM2,393 per tonne.
Volume soared to 35,262 lots, from 18,233 lots yesterday, while open
interest increased to 210,511 contracts from yesterday's 192,539
contracts.
In the physical market, May South decreased RM10 to RM2,370 per
tonne.
-- BERNAMA