Palm | Kelapa Sawit

CPO futures ended mix after recovered from its earlier losses. Benchmark Feb09 open almost unchanged at 1437, as Asian time NYMEX crude oil halted its fall from overnight losses to trade above $55 a barrel on Tuesday. Nevertheless, CPO prices unable to sustain and immediately fell following US eCBOT soy complex and Dalian palm inching lower. Benchmark Feb09 hit the psychological support level at 1400, which is also the intra day low. In the later part of afternoon session, some short-covering activities began to emerge and sent CPO prices to bounce back. It hit the intra day high of 1446 before it settled RM1 higher from yesterday’s settlement price at 1436.