Commodity Roundup: CPO futures ease for 2nd day running
CPO FUTURES
Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives Bhd ended lower for the second straight trading day yesterday on price adjustment following the recent strong gains, said dealers.
The CPO price is about 10 per cent lower than its historic high of RM2,764 a tonne recorded early this month, they said.
Besides, the commodity is tracking the easier soyabean prices on the Chicago Board of Trade (CBOT) overnight, the dealers said.
They said prices of the two commodities always move in tandem as both compete for the same export markets.
At close yesterday, July 2007 declined RM13 to RM2,455 a tonne, August 2007 eased RM22 to RM2,379, Sept 2007 shed RM24 to RM2,348 while Oct 2007 lost RM20 to RM2,330.
Volume rose to 9,972 lots from 8,040 lots on day while open interest increased to 80,937 contracts against 80,423 contracts previously.
On the physical market, June South shed RM10 to RM2,510 a tonne from RM2,520 on Monday
