Palm | Kelapa Sawit

CPO futures prices recouped some of its early losses to stay firm at 2300 mark. Spilled over bearish sentiment from the weaker regional stock market had dragged the NYMEX crude oil and E-CBOT soyoil prices in Asian Trading time to drop sharply and resulted a panicky selling emerged at local front. Benchmark Oct 09 opened RM 35 lower at 2300 and sank to hit the intra-day low at 2275 before bouncing to close at 2293 at the morning break. Prices were well absorbing in the afternoon session and saw intra-day short covering activities pushed the Oct 09 to the day high at 2345 before settling RM 10 lower at 2325. A choppy trading day ends with 16,049 contracts changed hands.