PALM OIL PRICES ON BURSA MALAYSIA DERIVATIVES BHD
Tuesday, August 5, 2008
Source from The Star

The Crude Palm Oil Futures Closing : Monday, 4 August 2008

(Prices are in RM/tonne)

MONTH	OPEN	HIGH	LOW	SETT	VOL	O.P.
AUG  08	2862	2897	2862	2896	58	2396
SEP  08	2850	2900	2827	2890	794	7964
OCT 08	2850	2897	2820	2890	7800	19762
NOV 08	2850	2895	2824	2890	2140	10253
DEC 08	2830	2949	2830	2896	808	3689
JAN  09	2874	2895	2856	2880	323	2430
MAR 09				2863		1854
MAY 09				2864		2219
JUL 09	2836	2900	2835	2890	412	2261
SEP  09				2890		808
NOV 09				2875		430
JAN 10	2860	2860	2860	2860	1	790
MAR10				2860		183
MAY10				2860		1233
JUL 10				2860		33

 

	Total Open Position	: 56,305 ctrs
	Total Turnover	: 12,336 lots
	Market Tone	: Lower

The Palm Kernel Oil Futures

(Prices are in RM/tonne)

MONTH	OPEN	HIGH	LOW	SETT	VOL	O.P
AUG  08				4149
SEP  08				4149
OCT 08				4149
NOV 08				4149
DEC 08				4149
JAN  09				4149
MAR 09				4149
MAY 09				4149
JUL 09				4149

 

	Total Open Position	: Nil
	Total Turnover	: Nil

 

WEAKNESS in the soyoil futures is keeping the CPO futures deep in the negative territory. The active October delivery contract declined RM60 to close at RM2,890/MT.

The lack of positive fundamental features is keeping the October delivery contract under pressure in the early session, driving prices in the intraday-low at RM2,820/MT. However, downward pressure eventually eased on short-term technical oversold conditions, and this has inspired a late session rebound as traders opted to lock-in trading profits.

Despite renewed short-term optimism, the overall price ceiling for the current recovery would be at the RM2,930/MT gap-resistance level. Failure to reclaim territory above the RM2,869/MT in the immediate-term, would be fatal for all the eager bulls.

The market is waiting for the demand / support data due out on Tuesday.

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