FBM KLCI Futures Close Firmer
The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) futures contracts closed firmer Monday amid the upward trend on the cash market, a dealer said.
The FBM KLCI futures for September 2009 and December 2009 gained 10.5 points each to settle at 1,192.5 and 1,186.5 respectively.For other contracts months, October 2009 rose 12 points to 1,191.5 and March 2010 advanced 11 points to 1,180.5. 
The day's turnover stood lower at 3,269 lots compared with 3,980 lots recorded last Friday while open interests rose slightly to 14,886 contracts from 14,873 contracts.On the cash market, the FBM KLCI closed at 1,190.39, up 11.65 points or 0.99 per cent.
FCPO Ends Down On Speculative Liquidation
Crude palm oil futures on Malaysia’s derivatives exchange tumbled for the fifth day Monday following long liquidation, trade participants said.
The benchmark November CPO contract on the Bursa Malaysia Derivatives ended MYR67 lower at MYR2,130 a metric ton, after moving in a narrowMYR2,125-MYR2,171/ton range.
Prices were lower at opening, in reaction to soyoil futures decline on the Chicago Board of Trade Friday. The selling pressure continued to push prices lower after prices move below key support for CPO prices at MYR2,150, triggering panic selling in the market, said a Kuala Lumpur-based trading executive. 
“As palm oil prices settled below MYR2,150, the market may remain under downward pressure to test key support at MYR2,100, followed by MYR2,085 andMYR2,050,” said a senior trading executive at a Kuala Lumpur-based commodities brokerage.
Soyoil futures on the CBOT pushed prices lower Friday, pressured by expectations of a bigger-than-expected soybean crop in the U.S. while favorable weather in the U.S. aided crop development, placing further weakness on soy oil prices.
September soyoil futures on CBOT settled 43 points lower at 33.65 cents apound. There were no trades on e-CBOT due to a public holiday in the U.S.
Trade participants and analysts said palm oil prices eased after India’s Meteorological Department announced a revival in monsoon rains may ease drought in India, boosting crop development.
“CPO prices were also weighed down by news of favorable weather in Malaysia as improved rains may have aided (oil palm) crop development,” said Alvin Tai, a plantation analyst with Kuala Lumpur-based OSK Investment Research.
Separately, Indonesia’s PT Perkebunan Nusantara sold 8,000 tons of CPO offered in a government auction Monday. Some 3,000 tons of CPO also offered in the auction remained unsold as the bids made were below PTPN’s offer prices of IDR6,570 -IDR6,662 a kilogram.
The open interest for CPO futures rose to 85,547 lots from 85,103 lots Friday. Trading volume also rose to 16,030 lots from 13,551 lots. One lot is equivalent to 25 tons.
The FBM KLCI futures for September 2009 and December 2009 gained 10.5 points each to settle at 1,192.5 and 1,186.5 respectively.For other contracts months, October 2009 rose 12 points to 1,191.5 and March 2010 advanced 11 points to 1,180.5. The day's turnover stood lower at 3,269 lots compared with 3,980 lots recorded last Friday while open interests rose slightly to 14,886 contracts from 14,873 contracts.On the cash market, the FBM KLCI closed at 1,190.39, up 11.65 points or 0.99 per cent.
FCPO Ends Down On Speculative Liquidation
Crude palm oil futures on Malaysia’s derivatives exchange tumbled for the fifth day Monday following long liquidation, trade participants said.
The benchmark November CPO contract on the Bursa Malaysia Derivatives ended MYR67 lower at MYR2,130 a metric ton, after moving in a narrowMYR2,125-MYR2,171/ton range.
Prices were lower at opening, in reaction to soyoil futures decline on the Chicago Board of Trade Friday. The selling pressure continued to push prices lower after prices move below key support for CPO prices at MYR2,150, triggering panic selling in the market, said a Kuala Lumpur-based trading executive. “As palm oil prices settled below MYR2,150, the market may remain under downward pressure to test key support at MYR2,100, followed by MYR2,085 andMYR2,050,” said a senior trading executive at a Kuala Lumpur-based commodities brokerage.Soyoil futures on the CBOT pushed prices lower Friday, pressured by expectations of a bigger-than-expected soybean crop in the U.S. while favorable weather in the U.S. aided crop development, placing further weakness on soy oil prices.
September soyoil futures on CBOT settled 43 points lower at 33.65 cents apound. There were no trades on e-CBOT due to a public holiday in the U.S.
Trade participants and analysts said palm oil prices eased after India’s Meteorological Department announced a revival in monsoon rains may ease drought in India, boosting crop development.
“CPO prices were also weighed down by news of favorable weather in Malaysia as improved rains may have aided (oil palm) crop development,” said Alvin Tai, a plantation analyst with Kuala Lumpur-based OSK Investment Research.
Separately, Indonesia’s PT Perkebunan Nusantara sold 8,000 tons of CPO offered in a government auction Monday. Some 3,000 tons of CPO also offered in the auction remained unsold as the bids made were below PTPN’s offer prices of IDR6,570 -IDR6,662 a kilogram.
The open interest for CPO futures rose to 85,547 lots from 85,103 lots Friday. Trading volume also rose to 16,030 lots from 13,551 lots. One lot is equivalent to 25 tons.
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