Palm | Kelapa Sawit

Palm oil futures ended mix to easier on a range trading day. Benchmark Apr09 had been hovering between day high 1945 and day low 1907 through out the day, before it finally settled RM3 higher at 1928. Fourth contract month (May09) settled RM5 lower at 1915 after trading within 1935 to 1900. Market sentiment was mix as eCBOT soy complex edged higher in the earlier trade but surrendered its gains again in the last hour of trading, while Dalian palm extended its yesterday’s losses. Trading was rather quiet with overall volume declined to only 10,276 contracts changed hands as traders were cautiously waiting for any fresh leads. Market may want to consolidate after the recent rally. The fall of overnight NYMEX crude oil and CBOT soy oil had resulted in Benchmark Apr09 to open RM10 lower at 1915.