Palm | Kelapa Sawit

Market traded in sideways range again and ended slightly higher ahead of long weekend covering. Benchmark Nov09 had been hovering between 2375-2352 through out the day until it settled RM24 higher at 2370. Players were generally cautious and did not make aggressive moves ahead of long weekend. Positive external markets did provide some support to the BMD as Asian time NYMEX crude oil edged higher today, while both eCBOT soy oil and Dalian palm also follow suit. Daily volume increased slightly to a total of 13,584 contracts that changed hands.