BURSA

MALAYSIA DERIVATIVES BHD
Thursday, June 28, 2007
Source from The Star

The Crude Palm Oil Futures Closing: Wednesday, June 27, 2007

(Prices are in RM/tonne)

MONTH	OPEN	HIGH	LOW	SETT	Vol	O/P
JUL 07	2455	2472	2432	2448	676	4560
AUG 07	2375	2394	2350	2367	1496	37152
SEP 07	2336	2363	2315	2334	5456	26623
OCT 07	2324	2335	2298	2344	636	3381
NOV 07	2300	2305	2295	2302	43	5110
DEC 07	-	-	-	2292	-	91
JAN 08	-	-	-	2276	-	1161
MAR 08	-	-	-	2267	-	784
MAY 08	-	-	-	2236	-	566
JUL 08	-	-	-	2236	-	557
SEP 08	2240	2274	2240	2236	25	432
NOV 08	-	-	-	2256	-	236
JAN 09	-	-	-	2256	-	295
MAR 09	-	-	-	2256	-	279
MAY 09	-	-	-	2256	-	40

	Total Open Position	: 81,267 ctrs
	Total Turnover	: 8,332 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	-	-

	Total Open Position	: Nil
	Total Turnover	: Nil

 

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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 CPO futures continued to drift lower on a lack of supportive fundamental feature amid increasing uncertainty on the future demand for the edible oil.

The September delivery contract declined RM14 to end at squeezed out by aggressive selling momentum keeping the prices drifting in negative territory throughout the session.

Meanwhile, traders are desperately searching for new trading directional leads. The September delivery contract traded in a lethargic manner gyrating within the tight band of RM2,329/MT - RM2,336/MT for most part of the session. However, the market seems to have found stability at area around the RM2,326/MT level today and a technical recovery could be in the making. On the other hand, upon striking a decisive breach below the RM2,326/MT level, market will have to refocus towards the nearest downside target at RM2,270/MT.

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