Palm | Kelapa Sawit

CPO futures ended mixed after a rather choppy and cautious trading day. Initially it opened RM 35 higher at 2715 and climbed to 2730 tracking overnight CBOT strong closing. However, profit taking activities emerged and sent benchmark July prices eased and slid to 2650 before it ending at 2665 for the morning lunch break. Afternoon session saw prices hovering between 2660 to 2720 before it settling unchanged at 2680. Total daily volume decline to 17,549 contracts changed hands. Reuters poll shows that April production seen up 5% from March 09 and put end April end stock down 4.7% to 22 month low at 1.3 million tonnes.