Monday, October 3, 2011

CPO futures fall to lowest since August 2010

KUALA LUMPUR: Crude palm oil (CPO) futures fell to their lowest since August 2010, with the benchmark CPO for third-month delivery down RM48 to RM2,847 at midday on Monday, Oct 3.

CPO for November delivery fell RM58 to RM2,846 and for December delivery, it was down RM64 to RM2,841.

For February delivery, the CPO futures fell RM57 to RM2,851 and for March, down RM53 to RM2,859.

The decline in CPO was linked to the weaker commodity prices for corn and soybean following a larger-than-expected stockpiles in the US.

News reports said corn posted its biggest monthly drop in five decades in September while'' wheat and soybeans skidded last Friday.

PLANTATION [] stocks on Bursa Malaysia fell, with Kuala Lumpur Kepong down 86 sen to RM20.24, its major shareholder BATU KAWAN BHD [] unchanged at RM14.96, PPB fell 62 sen to RM16 while Sime Darby shed 29 sen to RM8.15. IOI Corp lost 20 sen to RM4.45.

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