Refined Soy oil futures slipped today, as profit selling took a charge on the prices after a rally in the last four sessions. The global cues turned negative in the face of a massive sell off in the crude oil prices, which eased near $81 per barrel in Asia and the a break below Rs 460 extended the downside for the benchmark futures on the NCDEX. The Refined Soy oil futures on the NCDEX recorded steady gains for the four sessions in a row as the fresh buying continued amid steady demand in the local cash markets and a recovery in the global sentiments. The CPO futures slipped today, not being able to hold near MYR 2600 per tonne and correcting on profit sales in tandem with the weak crude oil prices. The benchmark June contract on the Bursa Malaysia Derivative exchange closed at MYR 2560, down MYR 31 or 1.20% from the previous close. The counter had ended up MYR21 at MYR 2591 a metric ton in the last session. The crude oil prices fell after nearing to $82 per barrel yesterday as traders eyed the latest up tick in the US inventories, as reported by the American Petroleum Industry (API) yesterday. The commodity slipped near $81 per barrel levels in the early moves today. US crude stockpiles jumped 7.5 million barrels the week ended March 19, API said on Tuesday NCDEX Refined Soy oil futures for April slipped to a low of Rs 457.60 per 10 kg and closed at Rs 458, down Rs 5.10 or 1.10% from the previous close with 2.52% increase in the open interest.

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