Palm | Kelapa Sawit

Palm oil futures ended marginally higher after a late liquidation. Benchmark Nov 09 initially opened RM31 higher at 2330, tracking the strong rally in overnight NYMEX crude oil. However, it then hovered between 2353-2305 level through out most of the sessions as the presence of selling pressure at higher level due to the bearish export figure reported by both private cargo surveyors. ITS & SGS stated a decline of 10.7% and 7% respectively for the period of Aug1-20. The emerged of late intra day liquidation activities saw Benchmark Nov09 eased off further and slide to settle at the intra day low of 2301. External markets were rather mix as Dalian palm edged 1% higher today while both Asian time NYMEX crude oil and eCBOT soy oil had inched lower.