Published:
Saturday May 24, 2014 MYT 11:47:00 AM
Updated: Saturday May 24, 2014 MYT 11:49:40 AM
Updated: Saturday May 24, 2014 MYT 11:49:40 AM
KUALA LUMPUR: Crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is likely be trade between RM2,500 and RM2,600 per tonne on speculative buying.
Interband Group of Companies Senior Palm Oil Trader Jim Teh said next week's market could undergo a technical correction in cautious trading on uncertainties surrounding the market.
He said exports were expected to remain strong following the
Ramadhan fasting month although the slow demand from China may cap
gains.
Production of fresh fruit bunch was also expected to increase in
May and June as the weather in these two months were most suitable for
production.
For the week just-ended, the futures market was mainly bearish on the back of a stronger ringgit and weaker soybean oil market.
On a Friday-to-Friday basis, June 2014 decreased RM88 to RM2,541
per tonne, July 2014 lost RM67 to RM2,525 per tonne, August 2014 fell
RM63 to RM2,517 per tonne while September 2014 slipped RM60 to RM2,582
per tonne. Weekly turnover rose to 171,620 lots from 117,248 lots last
week while open interest narrowed to 208,997 contracts from 214,777
contracts last Friday.
On the physical market, June South eased RM20 to RM2,550 per tonne. - BERNAMA
On the physical market, June South eased RM20 to RM2,550 per tonne. - BERNAMA
没有评论:
发表评论