Palm | Kelapa Sawit

CPO futures ended higher after a range bound trading on the back of good export numbers. Benchmark Jun09 had been hovering between 1997-1977 level through out most of the sessions before it hit intra day high of 2002 in late trading and finally settled RM30 higher at 2000. The released of unexpectedly good export data by both private cargo surveyors had provided some support to the local bourse. ITS reported a decline of merely 0.5% while SGS unexpectedly posted an increase of 5.4% for the end Mar export data. External factors were also supportive as both eCBOT soy oil and Dalian palm edged higher in Asian time trading. However, trading were rather thin as palyers were cautiously awaiting for new leads from the grains stock and planting report which is due to be released by USDA later tonight. Total volume stood at 9,742 contracts transacted.