Palm | Kelapa Sawit

CPO futures ended sharply lower as crude oil crack below USD100 a barrel. It hit as low at USD88.00 during Asian time zone. This had set the negative sentiment for the palm market. Heavy losses in rival soyoil trading in e-CBOT also added onto the selling pressure. Market sentiment is just weak especially NYMEX crude oil price trading below USD100 a barrel. Lower 1-15 export number released by rrivate cargo surveyors had weaken further the momentum. Benchmark Nov08 settle at fresh year low at 2240, down RM140 from last Friday's closing.