Palm | Kelapa Sawit

Palm oil futures ended lower after a choppy range trading. The concerns of deepening economic crisis and mix tone in other vege oil market had further enhanced the uncertainty in CPO market. Soy oil edged higher in Asian time trading while Dalian palm ended with losses. Regional equity market had continued to fall following the previous session in Wall Street tumbled to a new 12 year low (closed below 7000). Despite the Ringgit getting weaker, the gloomy sentiment in CPO market saw Benchmark May09 to hovered between 1860-1840 level in a choppy manner through out the day. It hit intra day high at 1866 on late trading but eased off to settle RM16 lower at 1855.