Uncertain trend for CPO futures

Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives are expected to continue on an uncertain trend next week with the renewed concerns over the euro zone crisis, dealers said.

Another dealer however said that the export data to be released on Monday is expected to be bullish and this could help support prices.

He expected the futures prices next week to trade around RM20-RM30 higher than this week.

On a weekly basis, September 2011 gained RM53 to RM3,115, October 2011 and November 2011 were up RM20 each to RM3,035 and RM3,003 respectively.

Turnover narrowed to 103,966 lots from 151,415 lots last week while open position shed to 129,652 contracts at the end of this week against 134,409 contracts a week ago.

On the physical market, September 2011 South stood at RM3,130 per tonne. — Bernama

Source: Business Times

You can share this posts:

Leave a Reply