Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives closed lower today on profit-taking, dealers said.
They said that weaker soy oil prices on China’s Dalian market, coupled with the sharp decline in oil prices yesterday, encouraged players to trim their position.
However, the losses were limited on supply concern, they added.
At close yesterday, the CPO futures contracts for May 2009 and June 2009 fell RM18 each to settle at RM2,593 per tonne and RM2,510 per tonne respectively.
July 2009 declined RM11 to RM2,435 per tonne and August 2009 dropped RM22 to settle at RM2,373 per tonne.
The day’s volume went down to 17,782 lots from 18,303 lots yesterday and open interests declined to 89,011 contracts from 89,099 contracts previously.
As for the physical market, May South was unchanged at RM2,620 per tonne.
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