23 May, 2011
Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives are expected to continue the uptrend next week driven by positive sentiments from the external market and export data, dealers said.
They said the uptrend would continue unless short covering occurred.
A dealer said cargo surveyors, Intertek Testing Services and Societe General de Surveillance, were scheduled to release the export data for the period of May 1-25 on May 25.
He said the higher soyaoil prices due to the bad weather in the major producers country were also expected to support CPO prices. Read the rest of this entry »