BURSA MALAYSIA DERIVATIVES BHD
Tuesday, July 31, 2007
Source from The Star

The Crude Palm Oil Futures Closing: Monday, July 30, 2007

(Prices are in RM/tonne)

MONTH	OPEN	HIGH	LOW	SETT	Vol	O.P
AUG 07	2708	2731	2708	2723	755	3219
SEP 07	2645	2675	2639	2667	5059	30393
OCT 07	2602	2639	2600	2636	13299	17556
NOV 07	2571	2622	2570	2621	7456	7238
DEC 07	2580	2605	2580	2590	235	827
JAN 08	2550	2590	2550	2575	264	1881
MAR 08	2535	2565	2535	2542	50	992
MAY 08	-	-	-	2517	-	1071
JUL 08	-	-	-	2501	-	912
SEP 08	2480	2480	2480	2494	1	597
NOV 08	-	-	-	2486	-	366
JAN 09	-	-	-	2450	-	655
MAR 09	-	-	-	2440	-	364
MAY 09	-	-	-	2440	-	115
JUL 09	-	-	-	2440	-	-

	Total Open Position	: 66,096 ctrs
	Total Turnover	: 27,119 lots
	Market Tone	: Higher

The Palm Kernel Oil Futures

(Prices are in RM/tonne)

MONTH	OPEN	HIGH	LOW	SETT	VOL	O.P
AUG 07	-	-	-	3061	-	-
SEP 07	-	-	-	3061	-	-
OCT 07	-	-	-	3061	-	-
NOV 07	-	-	-	3061	-	-
DEC 07	-	-	-	3061	-	-

	Total Open Position	: Nil
	Total Turnover	: Nil

 

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FURTHER advances in the energy futures and a 12% jump in the 1-25 days July CPO export, have extended gains in the CPO futures today. The October delivery contract jumped RM53 to settle at RM2,636/MT.

Moreover, the market is expecting a further surge in demand for the edible oil in the coming quarters due to the arrival of ethnic festive seasons in the region. In addition to that, the rapid descent of the Ringgit exchange rates also helped to reinforce the bullish tone.

The RM2,600/MT level in the October delivery contract has proven to be a reliable support for now. And an extended surge above the RM2,640/MT moderate resistance level is still possible given the robust buying momentum seen today. Moving higher, the market will have to deal with tough overhead resistance at RM2,711/MT.

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