FCPO : Info & Analysis

[Sony_Boy]

Crude Palm Oil Ends Up On Soyoil; Trade Thin, Volatile (02 Feb 2010)

Crude palm oil futures on Malaysia’s derivatives exchange ended higher in thin, rangebound trade Tuesday, supported by higher soyoil futures in after-hours trade, said trade participants.

The benchmark April CPO contract on the Bursa Malaysia Derivatives ended MYR7 at MYR2,452 a metric ton after moving in both positive and negative territory.

Although the BMD was closed Monday for a holiday, cargo surveyors released exports data for January, which provided some support for CPO prices today but weren't bullish enough to boost prices. Malaysia's January palm oil exports rose 24% from December to 1.48 million tons, according to cargo surveyor SGS (Malaysia) Bhd. An estimate by another surveyor, Intertek Agri Services, put January exports at 1.50 million tons.

Both estimates were within market expectations of a rise to 1.41 million-1.50 million tons. "Although January's exports were up significantly, many don't expect the increase to be repeated this month, and that sentiment weighed on prices," said a Kuala Lumpur-based trader. The trader said exports may start to decline as China has bought sufficient supplies ahead of the Lunar New Year holidays, and will likely not need new supplies until late February or early March.

CPO prices were in negative territory in morning trade but found support in higher soyoil futures in after-hours trade. By the end of BMD trade, soyoil futures were up around 25 points.

In the cash market, palm olein for April/May/June traded at $745/ton and $742.50/ton, free on board Malaysian ports, said a Singapore-based trader. Cash CPO for prompt delivery was offered MYR10 higher at MYR2,480/ton. Open interest on the BMD was 74,332 lots, up from 74,003 lots traded Friday. One lot is equivalent to 25 tons. A total of 14,734 lots of CPO were traded versus 14,890 lots Friday.

 

[Sony_Boy]

Asian Crude Palm Oil Ends Up; Output, Stocks Likely Lower (03 Feb 2010)

Crude palm oil futures on Malaysia's derivatives exchange ended up Wednesday as crude oil rebounded and as market sentiment improved on price-supportive supply-demand fundamentals, trade participants said.

The benchmark April CPO contract on the Bursa Malaysia Derivatives ended MYR46, or 1.9%, higher at MYR2,498 a metric ton after moving in a MYR2,475-MYR2,505/ton range.

The contract opened higher on short covering before rising above the psychological MYR2,500 level to hit MYR2,505 in the afternoon session, its highest level in two weeks. "Speculators are expecting the Malaysian Palm Oil Board to issue bullish data next week and many among them have built up longs," a Malaysia-based exporter said. The MPOB is expected to issue data on January exports, output and end-month stocks on Feb. 10.

Prices also extended gains after IOI Corp. Executive Director Lee Yeow Chor said Malaysia is likely to register lower output in February and March due to floods and rains in Sabah. Lee said prices may rise to MYR2,500-MYR2,700/ton in the next three months due to lower output and stronger exports.

Lower output may reduce Malaysia's palm oil inventories to less than 2 million tons from a 13-month high of 2.24 million tons at end-December. Cargo surveyors estimated January palm oil exports around 1.48 million-1.50 million tons.

At 0955 GMT, light, sweet crude for March delivery on the New York Mercantile Exchange was trading 70 cents higher at $77.93 a barrel. Crude oil rose as much as 81 cents or 1% to $78.04 in Asian trade.

In the cash market, palm olein for April/May/June traded higher at $757.50/ton and $760/ton, free on board Malaysian ports, said a Singapore-based trader. Cash CPO for prompt delivery was offered MYR40 higher at MYR2,520/ton. Open interest on the BMD was 73,085 lots, down from 74,332 lots traded Tuesday. One lot is equivalent to 25 tons. A total of 19,583 lots of CPO were traded versus 14,734 lots Tuesday.

 

[Sony_Boy]

Asian crude palm oil ends up on soy oil; supply, stock outlook (04 Feb 2010)

Crude palm oil futures on Malaysia's derivatives exchange climbed Thursday for a third consecutive day to their highest levels in more than two weeks as investors continued to cover short positions in anticipation of a fall in output and inventories. Supportive signals from external markets also supported prices, trade participants said.

The benchmark April CPO contract on the Bursa Malaysia Derivatives ended up MYR12, or 0.5%, at MYR2,510 a metric ton, after reaching an intraday high of MYR2,519/ton.

The contract opened lower on profit-taking but prices quickly moved into positive territory and extended gains during the afternoon session. Many investors covered their short positions while others built up long positions ahead of data due next week that is expected to show a drop in palm oil output and stocks, a Malaysia-based exporter said.

Malaysia's palm oil output may have declined 15% on month in January, a company executive at major plantation company in Malaysia said. "Palm oil inventories may have declined from their 13-month high of 2.24 million tons in December to around 2 million tons," an analyst from a Kuala Lumpur-based commodities brokerage said. Inventories are likely to decline from January onwards as "we are in the seasonally low production cycle and demand has been fairly good so far," he said.

Cargo surveyors estimated palm oil exports likely rose 24%-28% to around 1.50 million tons in January. The Malaysian Palm Oil Board is due to issue data on January exports, output and end-month stocks on Feb. 10.

Citigroup raised its CPO price forecast for 2010 to an average of $760/ton from a previous projection of $650/ton, as demand for most vegetable oils may rise 4.6%, outstripping 3.8% growth in global supplies. Palm oil output in Malaysia is likely to be slower this year due to a replanting program launched by the government in 2008, Citigroup said in a note.

March soyoil on the Chicago Board of Trade was trading 40 points higher at 37.30 cents a pound at the end of trade on the BMD.

In the cash market, palm olein for April/May/June traded higher at $770/ton, July/August/September at $760/ton, said a Singapore-based trader. Cash CPO for prompt delivery was offered MYR10 lower at MYR2,510/ton. Open interest on the BMD was 77,430 lots Thursday, up from 73,085 lots. One lot is equivalent to 25 tons. A total of 14,814 lots of CPO were traded versus 19,583 lots Wednesday.

​

 

[Sony_Boy]

Asian CPO Ends Up In Volatile Trade; Likely Lower Output Supports (05 Feb 2010)

Crude palm oil futures on Malaysia's derivatives exchange rose for the fourth consecutive day Friday as investors covered shorts ahead of next week's output and export data, ignoring weak external leads.

The benchmark April CPO contract on the Bursa Malaysia Derivatives ended up MYR11, or 0.4%, at MYR2,521 a metric ton, close to an intraday high of MYR2,521/ton.

Most growers are expecting a double-digit percentage drop in Malaysia's output in January, which may continue to decline in February, said a Kuala Lumpur-based trader. "February is a shorter month and the arrival of palm fruit bunches at the mills has been paltry so far," said a Malaysia-based exporter, adding this may ease the burden of domestic palm reserves, which rose to a 13-month high of 2.24 million tons in December.

The Malaysian Palm Oil Board will issue January output data on Wednesday. Production in December was estimated at 1.52 million tons, down 4.7% on month. Until then, CPO futures will likely remain in consolidation, trading in a MYR2,480-MYR2,525/ton range, an analyst in Kuala Lumpur said.

March soyoil on the Chicago Board of Trade was trading 14 points lower at 37.07 cents a pound at the end of trade on the BMD. At 1030 GMT, light, sweet crude oil on the New York Mercantile Exchange was trading 29 cents lower at $72.85 a barrel.

In the cash market, palm olein for April/May/June traded at $770/ton and $772.50/ton, July/August/September at $765/ton, said a Singapore-based trader. Cash CPO for prompt delivery was offered MYR20 higher at MYR2,530/ton.

In other news, India's state-run PEC Ltd. has floated a tender for the import of 12,000 tons of refined, bleached and deodorized palm olein, the company said on its Web site. The edible oil is for delivery during the last week of March at the southern ports of Chennai and Tuticorin, it said in a statement. The last date for submission of bids is Feb. 9.

Open interest on the BMD was 74,744 lots Friday, down from 77,430 lots. One lot is equivalent to 25 tons. Some 15,199 lots of CPO were traded versus 14,814 lots Thursday.

 

[asmara]

Nice Chart

hai sony_boy,dah lama ke bermain cpo??cm expert je...based on ur chart,mmg dh ade signal..just waiting for MA crossover,for extreme trader can buy now...have strength signalpaidpaidpaid

nice to know u all..

 

[asmara]

Berminat nak belajar CPO ni.Tapi xtahu dari mana nak mula..Ada sesiapa yg sudi ajar atau ada buat kelas untuk CPO ni x?Banyak link2 yg di rekomenkan sblm ni dah xbuat kelas CPO lagi..huhuh..
Ermmm..Ada gang2 yang main CPO ni area kuantan x?kalau ada leh share.Tq

ada..pergi kursus zamsaham,rm280 je siap makan n minum,seminar satu hari..di jb n kl

 

[asmara]

bile la agaknye aku dpt merasa trade fcpo ni...

insya allah kalo ade rezki...jangan riso,market is always there,jgn piki kita dh ketinggalan...masih ade ruang..

 

[asmara]

Menarik jugak FCPO ni..kena pelan2 belajar ..pastu pelan2 kayuh..

yupp sokong,majula kaum bumiputera ku dalam stock n stock trading,insya allah

 

[asmara]

bro sony,

any idea best time to buy?

can buy now,if wanna confirmation i will psot if MA crossover

 

[Sony_Boy]

hai sony_boy,dah lama ke bermain cpo??cm expert je...based on ur chart,mmg dh ade signal..just waiting for MA crossover,for extreme trader can buy now...have strength signalpaidpaidpaid

nice to know u all..

expert? masih darah muda lagi trade CPO nih.. yes, market is good to buy..