|
Main Page
|
 |
|
News Channel |
|
Palm oil lower
KUALA LUMPUR, April 7: Malaysian crude palm oil (CPO)
futures ran into profit taking to finish lower on
Tuesday, weighed by losses in rival Chicago soy
oil in Asian screen trade.
The benchmark third-month contract, June, was down
27 ringgit to close at 1,935 ringgit ($509.21) a
tonne.
Other traded contracts were down between 19 and 28
ringgit. Overall volume was 4,417 lots. Traders
said devoid of local factors, palm oil had to turn
to Chicago for clues.
In e-CBOT trade, soy futures extended overnight
losses amid prospects that Brazilian soybeans and
soy products will soon start moving into export
channels. The key May soy oil futures contract was
down 0.21 cent at 32.53 cents per lb at 1045 GMT.
Traders said the performance of the Chicago soy
market would continue to influence direction of
palm oil prices until the release of Malaysian
export figures.
The News International, Pakistan |
|
|
|
|
Pakissan.com; Advisory Point
|
|
