Business Times

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 »

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Business Times

20 May, 2011

CRUDE palm oil (CPO) futures on Bursa Malaysia Derivatives closed higher yesterday on anticipation of a better export data which is scheduled for release today. A dealer said positive sentiments such as high soy oil prices also supported CPO prices.

June 2011 rose RM53 to settle at RM3,453 a tonne, July 2011 gained RM54 to RM3,391, August 2011 went up RM63 to RM3,360 and September 2011 jumped RM65 to RM3,350.

Volume dropped to 24,223 lots from Wednesday’s 29,486 lots while open interest climbed to 106,826 contracts from 106,652 previously.

On the physical market, June South rose by RM40 to RM3,440 from RM3,400 previously.

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Business Times

19 May, 2011

CRUDE palm oil futures on Bursa Malaysia Derivatives closed higher yesterday on active demand from foreign buyers, a dealer said.

June 2011 went up RM11 to settle at RM3,400 a tonne, while July 2011 climbed RM43 to RM3,337, August 2011 rose RM42 to RM3,297 and September 2011 was RM40 higher at RM3,285.

Volume rose to 29,486 lots from Monday’s 18,702 lots and open interest was lower at 106,652 contracts as against 108,205 previously.On the physical market, June South was flat at RM3,400.

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18 May, 2011

CRUDE palm oil (CPO) futures contracts on Bursa Malaysia Derivatives ended higher yesterday on renewed demand following bullish export data released by two cargo surveyors.

Intertek Testing Services said the country’s exports for the first 15 days of May jumped 27.6 per cent to 533,419 tonnes from 418,134 tonnes the previous month.

The June 2011 contracts jumped RM24 to RM3,389 per tonne, July 2011 rose RM20 to RM3,294, August 2011 gained RM6 to RM3,255 and September 2011 climbed RM5 to RM3,245.

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14 May, 2011

CRUDE palm oil (CPO) futures contracts on Bursa Malaysia Derivatives closed higher yesterday with renewed buying interest from investors on bargain-hunting.

At the close, May 2011 gained RM10 to RM3,410 per tonne, June 2011 climbed RM55 to RM3,365, July 2011 rose RM48 to RM3,274 and August 2011 increased RM44 to RM3,249 per tonne.

Turnover rose to 29,674 lots from 25,252 lots on Thursday, while open interest declined to 112,707 from 112,976 contracts previously.

Meanwhile, May South added RM30 to RM3,380 per tonne.

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13 May, 2011

CRUDE palm oil futures on Bursa Malaysia Derivatives closed lower yesterday as the commodity suffered another global sell-off in less than a week, dealers said.

May 2011 lost RM37 to RM3,400 a tonne, June 2011 declined RM60 to RM3,310 while July 2011 and August 2011 both decreased RM43 each to RM3,226 and RM3,205, resprectively.

Turnover, however, rose to 25,252 lots, from 22,071 lots on Wednesday, while open interest climbed to 112,976 contracts, from 112,353, previously.

Meanwhile, May South lost RM30 to RM3,350 .

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12 May, 2011

CRUDE palm oil (CPO) futures contracts on Bursa Malaysia Derivatives closed higher again yesterday on continued buying from traders, dealers said.

A dealer said trading was, however, volatile with traders on the lookout for fresh leads.

“Spot month May 2011 turned bearish but overall fundamentals are still bullish,” she said, adding that the current hot spell may be temporary and was not expected to weigh on the coming oil palm harvest.

May 2011 lost RM63 to RM3,437 a tonne, June 2011 gained RM10 to RM3,370, July 2011 moved up RM11 to RM3,269 and August 2011 climbed RM20 to RM3,248.

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6 May, 2011

CRUDE palm oil futures contract on Bursa Malaysia Derivatives closed lower yesterday in tandem with other weak global commodity markets, dealers said.

They said concerns over palm oil supply and subdued demand in the physical market weakened market sentiment, globally, against a backdrop of a stronger US dollar.

The downtrend was also due to investors concerned over the possibility of China tightening further its monetary policy to fight inflation.
May trimmed RM25 to RM3,385 a tonne, June fell RM24 to RM3,285 a tonne, July decreased RM36 to RM3,229 and August was unchanged at RM 3,255.

However,turnover rose to 28,605 lots from 24,367 lots on Wednesday, while open interest amounted to 108,476 contracts from 105,814 contracts on Wednesday.

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