Palm | Kelapa Sawit

Palm oil futures ended lower on weak crude oil prices. Trading were mix initially as Benchmark Oct09 closed unchanged at the end of morning session after hovering between 2132-2158. However, the late sell-down on Shanghai’s stock market had spread the gloomy and weak sentiment to the regional equity market which some how or rather spilled over into BMD. This had also provided the excuse for the long to book profit after last 2 days of rebound. Benchmark Oct09 immediately fell lower after second session resumed trading and slid to intra day low of 2109 before it settled RM27 lower at 2113 due to further weakening of Asian time NYMEX crude oil. Daily volume was moderate with a total of 15,366 contracts changed hands.