Palm | Kelapa Sawit

Palm oil futures gained back from yesterday’s losses on positive external vege oil markets. Benchmark Oct09 fell to intra day low of 2106 after opened RM27 higher at 2125. However, it immediately gained support at that level as it hovered between 2121-2113 till morning close. As Asian time NYMEX crude oil and eCBOT soy oil continue to surge higher this led BMD to follow suit. Benchmark Oct09 extended its gains to hit 2146 before it settled RM42 higher at 2140. Daily volume rebounded from yesterday’s low activity to a total of 16,498 contracts changed hands.