Malaysian palm oil futures were little changed at the close on Monday with dealers cautious about taking fresh positions ahead of this week's export data. Bursa Malaysia Derivatives' new benchmark third-month palm oil contract, July, ended one ringgit lower at 1,426 ringgit ($375.26) a tonne. The contract had touched a low of 1,421 ringgit and a high of 1,430 ringgit. Overall volume was a moderate 3,509 lots.
Other traded contracts settled up one ringgit.
"We are waiting for the exports numbers. The overall product market is slow," said one dealer in Kuala Lumpur.
Cargo surveyors ITS and SGS are scheduled to release their export figures for the first 20 days of April on Wednesday.
SGS, whose numbers are more widely watched by the market, put exports of Malaysian oil palm products for March 1 to 20 at 748,057 tonnes, up 10.3 percent from the 678,151 tonnes seen for February 1 to 20.
"People have been talking about exports reaching between 720,000 and 750,000 tonnes for April 1 to 20. We don't expect much increase but people may come up with new estimates tomorrow," the dealer said.
In the soyoil market, May soyoil on the Chicago Board of Trade was down 0.05 cent to 22.59 cents per lb by 1047 GMT in Monday's electronic trade, after closing up 0.22 cent on Friday.
In trade of physical crude palm oil on Monday, April and May saw bids at 1,430 ringgit a tonne, against offers at 1,435 ringgit in Malaysia's southern region.
Trades were reported at 1,427.50 to 1,430 ringgit.
In the central zone, the two months were bid/offered at 1,425/1,430 ringgit a tonne. Trades for April and May were reported at 1,425 to 1,430 ringgit.
PALM OIL FUTURES:
April (south): 1435.
Open/High/Low: 1425/1430/1421.
Previous close: 1435
PALM OIL PHYSICALS:
July (3rd month): 1426.
Previous settlement: 1427.
FUTURES:
Benchmark third-month July closed one ringgit lower after volatile trade. Weakness in CBOT soy futures weighed on sentiment.
PHYSICALS:
Little changed but buying interest offered support for futures.
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