Sony_Boy
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Asian Crude Palm Oil Ends Up In Thin, Volatile Trade (01 Dec 2009)
(Dow Jones)--Crude palm oil futures on Malaysia's derivatives exchange ended up Tuesday in thin, volatile trade as a lack of market participants allowed prices to be pushed around easily, said traders.
The benchmark February contract on the Bursa Malaysia Derivatives exchange ended MYR23 higher at MYR2,495 a metric ton, after moving in a range of MYR2,445-IDR2,498/ton.
Weaker soyoil futures dragged CPO into negative territory in early trade, but a recovery in soyoil and crude oil futures during the BMD's afternoon session helped CPO prices to rebound, traders said. At the end of trade on the BMD, New York Mercantile Exchange light, sweet crude for January delivery was trading 55 cents higher at $77.83 a barrel. The Chicago Board of Trade December soyoil contract was up 36 points at 40.55 cents a pound in electronic trading.
There were few buyers in the palm oil cash market, with many participants heading for a major palm oil conference due to start in Bali on Wednesday. "There were plenty of sellers, but few bids from buyers," said a Singapore-based trader. The three-day conference will provide an opportunity for vegetable oil analysts like Dorab Mistry, Thomas Mielke and James Fry to give their projections for the performance of palm oil and other major vegetable oils market next year.
In the cash market, cash palm olein for January/February/March traded at $750/ton, a Singapore-based trading executive said. Cash CPO for prompt delivery was offered MYR10 higher at MYR2,440/ton. A total of 14,347 lots of CPO were traded on the BMD versus 17,307 lots Monday. Open interest was 91,125 lots Tuesday, up from 91,006 lots. One lot is equivalent to 25 tons.
(Dow Jones)--Crude palm oil futures on Malaysia's derivatives exchange ended up Tuesday in thin, volatile trade as a lack of market participants allowed prices to be pushed around easily, said traders.
The benchmark February contract on the Bursa Malaysia Derivatives exchange ended MYR23 higher at MYR2,495 a metric ton, after moving in a range of MYR2,445-IDR2,498/ton.
Weaker soyoil futures dragged CPO into negative territory in early trade, but a recovery in soyoil and crude oil futures during the BMD's afternoon session helped CPO prices to rebound, traders said. At the end of trade on the BMD, New York Mercantile Exchange light, sweet crude for January delivery was trading 55 cents higher at $77.83 a barrel. The Chicago Board of Trade December soyoil contract was up 36 points at 40.55 cents a pound in electronic trading.
There were few buyers in the palm oil cash market, with many participants heading for a major palm oil conference due to start in Bali on Wednesday. "There were plenty of sellers, but few bids from buyers," said a Singapore-based trader. The three-day conference will provide an opportunity for vegetable oil analysts like Dorab Mistry, Thomas Mielke and James Fry to give their projections for the performance of palm oil and other major vegetable oils market next year.
In the cash market, cash palm olein for January/February/March traded at $750/ton, a Singapore-based trading executive said. Cash CPO for prompt delivery was offered MYR10 higher at MYR2,440/ton. A total of 14,347 lots of CPO were traded on the BMD versus 17,307 lots Monday. Open interest was 91,125 lots Tuesday, up from 91,006 lots. One lot is equivalent to 25 tons.
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( ntahlah..tengok mcm mana hari ni. Silap tak cut loss awal2 smlm. Apapun, timer kasih banyak2. Nanti nak usha kat Am Futures punya DMA.
