Palm | Kelapa Sawit

Palm oil futures ended with a triple digit gains on strong external markets. Benchmark Oct09 immediately jumped RM43 higher to open at 2232 and then surged higher to hover between 2273-2296 level through out most of the sessions before it ended RM106 higher at 2295. The bullish external markets had been fueling the buying sentiment in the local BMD. Asian time NYMEX crude oil traded more than $1 higher led Dalian palm ended more than 200 point higher while eCBOT soy oil also edged higher. Meanwhile, traders were also expecting some fresh news from the upcoming data by USDA which for the first time will forecast the size of 2009 US corn & soybean crops based on actual field surveys, rather than historical yields. On the other hand, well-known industry analyst Mr Dorab Mistry will also deliver its paper by tomorrow.