Futures contracts within less than one point to the underlyingDespite the marginal losses in the cash market, all the KLCI Futures contracts ended higher Tuesday with the March 2010 contract turning to premium while the others trimmed their discounts.
The December contract gained 3.5 points to 1,261.0 points, trimming its discount to the underlying to 0.46 of a point from 7.86 points Monday. The contract opened 1.5 points higher at 1,259.0 points and traded between 1,258.5 and 1,263.5 points during the day.
The January 2010 contract added 2.0 points to 1,260.5 points, reducing its discount to the cash market to 0.96 of a point from 6.86 points a day earlier. The contract traded between 1,259.0 and 1,263.5 points.
The March 2010 rose 3.0 points to 1,262.0 points, which is a premium of 0.54 of a point, while the June 2010 contract added 1.5 points to 1,260.5 points, representing a discount of 0.96 of a point to the underlying.
Crude Palm Oil Ends Tad Up In Thin, Volatile Trade
Crude palm oil futures on Malaysia's derivatives exchange ended slightly higher Tuesday in thin, volatile trade that saw prices flipping from negative to positive territory.
The benchmark February contract on the Bursa Malaysia Derivatives ended MYR2 higher at MYR2,561/ton, after trading in a range of MYR2,535-MYR2,590/ton.
"The market is undecided about direction as bullish cues from last week's palm oil conference have already been factored in," a Singapore-based trader said.
"Most players will wait for the release of Malaysia's Dec. 1-10 export data (due Thursday) before making any big moves," he added.
Some participants felt the market should have traded lower.
"There's room for prices to move slightly lower, as Friday's rally on BMD was too steep," said a trading executive in Singapore.
After trading in negative territory in the morning, CPO prices rose on supportive soyoil and crude oil prices in electronic trade.
Light, sweet crude on the New York Mercantile Exchange for January delivery was trading 19 cents higher at $74.12 a barrel at the end of BMD trade. January soyoil on the Chicago Board of Trade was trading 14 points higher at 40.81 cents a pound.
In the cash market, palm olein for April/May/June was traded at $795/ton, a Singapore-based trader said.
Cash CPO for prompt delivery was offered unchanged at MYR2,500/ton.
A total of 13,138 lots of CPO were traded on the BMD versus 14,729 lots Monday.
Open interest was 87,061 lots Tuesday, up from 91,399 lots. One lot is equivalent to 25 tons.
The December contract gained 3.5 points to 1,261.0 points, trimming its discount to the underlying to 0.46 of a point from 7.86 points Monday. The contract opened 1.5 points higher at 1,259.0 points and traded between 1,258.5 and 1,263.5 points during the day.
The January 2010 contract added 2.0 points to 1,260.5 points, reducing its discount to the cash market to 0.96 of a point from 6.86 points a day earlier. The contract traded between 1,259.0 and 1,263.5 points.The March 2010 rose 3.0 points to 1,262.0 points, which is a premium of 0.54 of a point, while the June 2010 contract added 1.5 points to 1,260.5 points, representing a discount of 0.96 of a point to the underlying.
Crude Palm Oil Ends Tad Up In Thin, Volatile TradeCrude palm oil futures on Malaysia's derivatives exchange ended slightly higher Tuesday in thin, volatile trade that saw prices flipping from negative to positive territory.
The benchmark February contract on the Bursa Malaysia Derivatives ended MYR2 higher at MYR2,561/ton, after trading in a range of MYR2,535-MYR2,590/ton.
"The market is undecided about direction as bullish cues from last week's palm oil conference have already been factored in," a Singapore-based trader said.
"Most players will wait for the release of Malaysia's Dec. 1-10 export data (due Thursday) before making any big moves," he added.
Some participants felt the market should have traded lower."There's room for prices to move slightly lower, as Friday's rally on BMD was too steep," said a trading executive in Singapore.
After trading in negative territory in the morning, CPO prices rose on supportive soyoil and crude oil prices in electronic trade.
Light, sweet crude on the New York Mercantile Exchange for January delivery was trading 19 cents higher at $74.12 a barrel at the end of BMD trade. January soyoil on the Chicago Board of Trade was trading 14 points higher at 40.81 cents a pound.
In the cash market, palm olein for April/May/June was traded at $795/ton, a Singapore-based trader said.Cash CPO for prompt delivery was offered unchanged at MYR2,500/ton.
A total of 13,138 lots of CPO were traded on the BMD versus 14,729 lots Monday.
Open interest was 87,061 lots Tuesday, up from 91,399 lots. One lot is equivalent to 25 tons.
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