BURSA

MALAYSIA DERIVATIVES BHD
Wednesday, June 27, 2007
Source from The Star

The Crude Palm Oil Futures Closing: Tuesday, June 26, 2007

(Prices are in RM/tonne)

MONTH	OPEN	HIGH	LOW	SETT	Vol	O/P
JUL 07	2468	2470	2438	2455	604	4979
AUG 07	2499	2499	2354	2379	1937	37522
SEP 07	2382	2382	2321	2348	6066	26195
OCT 07	2349	2349	2304	2330	687	3018
NOV 07	2300	2320	2286	2320	366	4888
DEC 07	2305	2310	2290	2320	65	31
JAN 08	2280	2280	2280	2305	20	1151
MAR 08	-	-	-	2296	-	784
MAY 08	2250	2250	2240	2265	60	560
JUL 08	2250	2250	2230	2265	62	547
SEP 08	2250	2250	2220	2265	105	412
NOV 08	-	-	-	2285	-	236
JAN 09	-	-	-	2285	-	295
MAR 09	-	-	-	2285	-	279
MAY 09	-	-	-	2285	-	40

	Total Open Position	: 80,937 ctrs
	Total Turnover	: 9,972 lots
	Market Tone	: Lower

The Palm Kernel Oil Futures

(Prices are in RM/tonne)

MONTH	OPEN	HIGH	LOW	SETT	LOTS	O/P
JUL 07	-	-	-	2965	-	-
AUG 07	-	-	-	2965	-	-
SEP 07	-	-	-	2965	-	-
OCT 07	-	-	-	2965	-	-
NOV 07	-	-	-	2965	-	-
DEC 07	-	-	-	2965	-	-
JAN 08	-	-	-	2965	-	-
MAR 08	-	-	-	2965	-	-
MAY 08	-	-	-	2965	-	-

	Total Open Position	: Nil
	Total Turnover	: Nil

 

---

Expectation of further weakness in export and a higher month-end stock level is keeping the CPO futures in a defensive stance throughout the session. The September contract slipped RM24 to end at RM2,348/MT.

The actively traded September delivery contract continued to drift lower on speculative-led selling momentum. The market has been trying hard to retest levels above the RM2,370/MT level in the midday, but eventually lost traction as aggressive selling pressure emerged from the RM2,385/MT level to pin price back below the RM2,340/MT level. For the immediate-term, a convincing breach below the minor support at RM2,320/MT will encourage further slides towards RM2,277/MT.

The bears are strongly in command of territories lying below the RM2,368/MT crucial resistance level. Lower meaningful support is found at the RM2,276/MT level.

This entry was posted on Wednesday, June 27th, 2007 at 2:25 pm and is filed under The Crude Palm Oil Futures Closing. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.