Palm | Kelapa Sawit

Palm oil futures inched higher after tight range trading. Benchmark Dec09 had been hovering between 2130-2116 through out most of the sessions before it hit intra day low of 2112 in late trading and settled RM10 higher at 2115. The strong close in overnight NYMEX crude oil which gained more than USD3 had lifted BMD market to trade in positive territory today. Nevertheless, trading activity remained inactive and volume fell dramatically with only a total of 9,041 contracts traded in the market due to China market holiday in conjunction with their National Day. Asian time NYMEX crude oil eased off on profit taking after its overnight strong gains while eCBOT soy oil traded mix to steadier.