Palm | Kelapa Sawit

Palm oil futures ended lower on late liquidation after the earlier supportive trading. Benchmark Nov09 immediately fell to the morning low of 2204 after opened unchanged at 2218. Initially it was well supported as it bounced back and climbed slowly through out most of the sessions until it hit intra day high of 2236 in late second sessions. However, the emerged of intra day liquidation and some technical selling in late trading saw prices slammed down to break below 2200 level and settled RM21 lower at intraday low of 2197. Market sentiment was still weak today as traders cautiously awaiting for the upcoming export data and MPOB supply & demand date which is due to release on next Thursday.