Palm | Kelapa Sawit

CPO futures reversed yesterday losses to end generally higher on stronger external factors. A good recovery in overnight CBOT soyoil coupled with strong rally in NYMEX crude oil futures which up more than USD2 traded above USD77.00 a barrel. This had provided speculative buying sentiment. Asian time zone trading also in positive tone. This also had further boost the bull’s confident. New benchmark Jan10 was trading steadily thought out the day and surged to settle RM 67 higher at 2178 after trading in the range between 2138-2178 with total daily volume stood at 21,218 contracts changed hands. About 50% of the trades were switches mostly between Dec09 versus Jan10.