Ng said the firmer Chicago bean oil market also spurred buying interest in the local palm oil market, given China’s low palm oil stocks at the moment.. — Reuters pic
KUALA LUMPUR, Sept 8 —The crude palm oil futures contract on Bursa Malaysia Derivatives ended higher today, tracking the stronger overnight Chicago bean oil market performance due to increased demand from China on fears of rain and floods, said palm oil trader David Ng.Ng said the firmer Chicago bean oil market also spurred buying interest in the local palm oil market, given China’s low palm oil stocks at the moment.
Total volume narrowed to 45,946 lots compared with yesterday’s 58,228 lots, while open interest fell to 230,315 contracts from 240,496 contracts previously.Related Articles