The Crude Palm Oil Futures Closing
PALM OIL PRICES ON BURSA MALAYSIA
Thursday, May 29, 2008
Source from The Star
The Crude Palm Oil Futures Closing : Wednesday, 28 May 2008
(Prices are in RM/tonne)
|
MONTH |
OPEN |
HIGH |
LOW |
SETT |
VOL |
O.P. |
|
JUN 08 |
3660 |
3671 |
3600 |
3572 |
263 |
1743 |
|
JUL 08 |
3675 |
3688 |
3578 |
3585 |
1683 |
14335 |
|
AUG 08 |
3680 |
3695 |
3572 |
3587 |
8034 |
12169 |
|
SEP 08 |
3685 |
3895 |
3577 |
3589 |
1706 |
4002 |
|
OCT 08 |
3685 |
3690 |
3580 |
3599 |
277 |
183 |
|
NOV 08 |
3685 |
3688 |
3685 |
3563 |
50 |
2062 |
|
JAN 09 |
- |
- |
- |
3554 |
- |
1534 |
|
MAR 09 |
- |
- |
- |
3534 |
- |
814 |
|
MAY 09 |
- |
- |
- |
3524 |
- |
330 |
|
JUL 09 |
- |
- |
- |
3494 |
- |
325 |
|
SEP 09 |
- |
- |
- |
3471 |
- |
330 |
|
NOV 09 |
- |
- |
- |
3469 |
- |
200 |
|
JAN 10 |
- |
- |
- |
3460 |
- |
335 |
|
MAR10 |
- |
- |
- |
3460 |
- |
40 |
|
MAY10 |
- |
- |
- |
3460 |
- |
- |
|
|
|
|
|
|
Total Open Position |
: 38,502 ctrs |
|
|
Total Turnover |
: 12,013 lots |
|
|
Market Tone |
: Lower |
|
|
|
|
The Palm Kernel Oil Futures
(Prices are in RM/tonne)
|
MONTH |
OPEN |
HIGH |
LOW |
SETT |
VOL |
O.P |
|
JUN 08 |
|
|
|
4116 |
|
|
|
JUL 08 |
|
|
|
4116 |
|
|
|
AUG 08 |
|
|
|
4116 |
|
|
|
SEP 08 |
|
|
|
4116 |
|
|
|
OCT 08 |
|
|
|
4116 |
|
|
|
NOV 08 |
|
|
|
4116 |
|
|
|
|
|
|
|
|
Total Open Position |
: Nil |
|
|
Total Turnover |
: Nil |
|
|
|
|
The CPO futures fell sharply on fresh speculative-led selling momentum, snapping a 5 days winning streaks. Furthermore, sharp decline in the Crude oil futures also weighning heavily on the CPO. The August tumbled RM143 to settle at RM3,587/MT.
To add fuel to fire, news that
Selling momentum intensified once the crucial support level at RM3,601/MT gave way. This has attracted extended weakness and accelerated selling interests driven by long liquidation activity. Having said that a daily chart closing below the critical RM3,590/MT level will encourage potential price slippage towards RM3,521/MT and RM3,469/MT in the immediate-term.
