Tokyo rubber futures were mixed on Wednesday, with the distant benchmark contract still supported by firm oil prices but profit-taking depressing nearby contracts, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for December delivery rose 4.1 yen to settle at 264.2 yen ($2.98) per kg. Other contracts fell between 1.4 and 6.0 yen, they said.
"Technical sentiment on the benchmark contract looks better after prices didn't break below 260 yen, a psychological level, which encouraged players to take speculative positions again," one dealer said. Oil remained firm above $77 a barrel on Wednesday, after rising nearly 3 percent the previous session. Dealers said they expected TOCOM prices to rise further after prices found a strong support level at 260 yen.