BMD Crude Palm Oil and FBM KLCI Futures Markets

BMD Crude Palm Oil Futures

CRUDE palm oil (CPO) futures on Bursa Malaysia Derivatives rebounded yesterday as overnight gains by rival US soyabean oil helped to lift the market amid thin trade, dealers said.

"The CPO gains were mainly due to the rise of soyabean oil prices although trading was relatively quiet as market players were still searching for fresh leads," said one of thedealers.

The crude oil market, which pulled back after gaining more than 5 per cent the previous day, also provided support to the vegetable oils market, another dealer said.

However, overall trading volume is forecast to be thin on expectation of less orders from China ahead of the country’s National Day holiday next week, he said.

October CPO futures closed RM26 higher at RM2,162 a tonne and November advanced RM24 to RM2,131. December and January 2010 gained RM10 and RM12 respectively to RM2,115.
Turnover yesterday, however, was lower at 9,041 lots compared to 16,056 lots on Wednesday while open interest rose to 95,200 contracts from 92,125 contracts previously.
On the physical market, October South was traded at RM2,200 a tonne, up from RM2,170 for September South onThursday.

FBM KLCI Futures

The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) futures ended firmer Thursday on the back of a mixed trend in the cash market, a dealer said.

The October 2009 and December 2009 contracts surged three points each to 1,209 and 1,208.5, respectively, while March 2010 was 2.5 points higher at 1,206.5. Turnover, however, fell to 3,789 lots from 7,136 lots Wednesday and open interests dipped to 14,143 contracts from 18,629 contracts previously.

The FBM KLCI gained 6.27 points to 1,208.35 at the closing Thursday.