Palm | Kelapa Sawit

Commercial covering at the underlying cash market and recovery of overnight losses in CBOT (e-CBOT up 150 points at one stage) provided the excuse for the technically oversold market to due for correction. According to a trader, quite an active destination sales in the last few days as prices had drop substantially where this may have attract the consumer buying interest. 3rd month Oct08 settled RM55 higher at 2845 after trading between 2735 to 2851.