Malaysia CPO ends flat; CBOT soy down, ringgit weak

Crude palm oil futures on Bursa Malaysia Derivatives settled largely flat as losses due to weakness in soyoil contracts on CBOT were offset by gains from a weak ringgit against the dollar. Prices of crude palm oil and soyoil typically move in tandem as the commodities are used as substitutes. Weakness in the Malaysian currency makes the commodity cheaper for buyers holding other currencies. The most active June contract of crude palm oil on the Malaysian bourse closed at 2,431 ringgits (40,936.63 rupees) per tn, down 0.1% from the previous close.