Palm | Kelapa Sawit

Palm oil futures ended lower on weak external markets. Benchmark Aug09 immediately slid to morning low of 2477 after opened at intra day high at 2501. It was well supported initially as it hovers between 2484-2499 level through out the morning session. However, second session resumed with easier tone tracking external market, it was under selling pressure through out the second session. It then slid to intra day low of 2445 in late trading before it finally settled RM20 lower at 2465. The weakness in external markets had provided some selling pressure to the local CPO market today. Asian time NYMEX crude oil traded more than $1 lower at below $72 level while eCBOT soy oil and Dalian palm also edged lower.