Palm | Kelapa Sawit

CPO futures ended below 1900 level after a choppy trading in range bound mode. Market sentiment had remained uncertain with easier tone through out the day as traders were cautiously awaiting for fresh leads. This caused Benchmark May09 to hover between 1935-1895 level after it opened RM13 lower at 1909, tracking the eCBOT and Dalian palm that edged down through out the day. CPO prices were seen struggling to hold at 1900 level and was tested several times. Nevertheless, the last wave of selling activity in late trading sent Benchmark May09 to hit intra day low at 1892 before it finally settled RM27 lower at 1895.