Palm | Kelapa Sawit

Palm oil futures ended easier after a tight range movement on thin volume. Benchmark Aug had been hovering between 2606-2574 level through out most of the sessions after it opened almost unchanged at 2601. Some late intra day liquidation saw prices slid further to 2565 but was pushed up into earlier range again and settled RM23 lower at 2575. Market were somehow uncertain as players cautiously looking for any fresh leads especially on any further clues of end stock level, while waiting for the MPOB supply & demand data which will be release by next Wednesday. External market showed some weakness today as both eCBOT soy oil and Dalian palm edged lower. Total daily volume stood at 9830 contracts changed hands.