CPO PRICE ON APRIL 6: At the beginning of trading, down 1.23%

June 2016 CPO futures, the most-active contract on Bursa Malaysia, opened 1.23% lower at MYR2,722 a ton.

Meanwhile, the ringgit was seen strengthening against the US dollar in the Asia spot market. The local note gained 0.28% to MYR3.91 against the greenback.

Yesterday, CPO futures contracts fell 0.51% to MYR2,756 a ton.

According to Asia Pacific Equity Research, as quoted by Bloomberg, there was some positive data expected to provide short-term support, including data from the US Department of Agriculture on plans to reduce soybean planting output.  

Price movement of the June 2016 CPO contracts