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aws试用账号(www.2km.me)_CPO futures to trend lower on profit-taking this week

admin2021-10-127

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A dealer says the recent major rally in prices may also weigh down the sentiment for the golden crop. CPO futures accelerated to close at an all-time high on Friday, setting fresh record prices for the third time last week.

PETALING JAYA: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to retreat from last week’s gains, driven by profit-taking due to higher prices, a dealer says.

He said the recent major rally in prices may also weigh down the sentiment for the golden crop.

CPO futures accelerated to close at an all-time high on Friday, setting fresh record prices for the third time last week.

The benchmark palm oil contract for December 2021 soared RM117 to RM4,966 a tonne.

Singapore-based Palm Oil Analytics owner and co-founder Sathia Varqa said markets will closely monitor the Malaysian Palm Oil Board data for September 2021, as well as the Oct 1-10 export data, both due today.

“The expectation is a strong rise in exports from the previous month, a small rise in production, and a decline in stocks,” he said.For the week just ended, Malaysian CPO futures finished mostly higher.

They were driven by concerns over weak production and expectations of strong demand in the upcoming weeks. ― Bernama


转载说明:本文转载自Sunbet。

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