Commodities Roundup: CPO futures slightly lower
Business Times
Saturday - July 05, 2008
CPO FUTURES
Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives closed slightly lower yesterday on lack of volume as market players remained sidelined, a dealer said.
He said the benchmark September contract closed lower by RM5 at RM3,630 per tonne compared to Thursday’s closing of RM3,635 per tonne.
“There are no new leads in the market right now. Buyers took a cautious stand as they awaited fresh leads from the reports of cargo surveyors which are due next Thursday,” he said.
He said the The Malaysian Palm Oil Board (MPOB) is also scheduled to announce the June production, exports and ending stocks data on that day.
July 2008 declined by RM5 to RM3,565 a tonne and August 2008 decreased RM24 to RM3,599 while October 2008 went down by RM19 to RM3,640 per tonne.
Volume decreased to 5,998 lots from 8,439 lots on Thursday while open interest increased to 44,597 contracts from 43,705 contracts.
On the physical market, July South ended RM20 lower at RM3,630 per tonne.
