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CPO prices close higher tracking Chicago Board of Trade soy prices
by Cals Thu 12 Sep 2013, 22:37
CPO prices close higher tracking Chicago Board of Trade soy prices
Business & Markets 2013
Written by Bernama
Thursday, 12 September 2013 20:11
KUALA LUMPUR (Sept 12): Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives closed higher today, tracking Chicago Board of Trade soy prices, and optimism over a price-friendly US Department of Agriculture report later today.
"However, the upside is expected to be capped as leading vegetable oil analyst Dorab Mistry said in his speech in Singapore, that palm oil's recent rally may run out of steam due to recovery in Southeast Asia's CPO output, and as US Federal Reserve may start tapering off the stimulus," said Phillip Futures Sdn Bhd Derivative Product Specialist, David Ng.
Spot month September 2013, October 2013 and December 2013, gained RM10 each
to RM2,361, RM2,351 and RM2,340, respectively.
Volume decreased to 21,920 lots from 26,753 lots, while open interest fell to 181,941 contracts versus Wednesday's 184,969 contracts.
On the physical market, September South added RM15, to RM2,385 a tonne.
Business & Markets 2013
Written by Bernama
Thursday, 12 September 2013 20:11
KUALA LUMPUR (Sept 12): Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives closed higher today, tracking Chicago Board of Trade soy prices, and optimism over a price-friendly US Department of Agriculture report later today.
"However, the upside is expected to be capped as leading vegetable oil analyst Dorab Mistry said in his speech in Singapore, that palm oil's recent rally may run out of steam due to recovery in Southeast Asia's CPO output, and as US Federal Reserve may start tapering off the stimulus," said Phillip Futures Sdn Bhd Derivative Product Specialist, David Ng.
Spot month September 2013, October 2013 and December 2013, gained RM10 each
to RM2,361, RM2,351 and RM2,340, respectively.
Volume decreased to 21,920 lots from 26,753 lots, while open interest fell to 181,941 contracts versus Wednesday's 184,969 contracts.
On the physical market, September South added RM15, to RM2,385 a tonne.
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» KLCI futures close higher, tracking firmer cash market
» KLCI futures close higher, tracking underlying cash market
» KLCI futures close higher, tracking underlying cash market
» KLCI futures close higher, tracking firmer cash market
» KLCI futures close higher, tracking firmer cash market
» KLCI futures close higher, tracking underlying cash market
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