The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) futures on Bursa Malaysia
Derivatives closed higher on Thursday amid firmer underlying cash market, said dealers.The December 2009 contract rose 0.5 of a point to 1,264.0, January 2010 inched up 0.5 of a point to 1,265.0, March 2010 added 1.0 point to 1,265.0 and June 2010 went up 1.5 points to 1,265.5.
Total volume improved to 7,508 lots from 6,809 lots yesterday while open interest increased to 19,858 contracts from 17,561 contracts.
The underlying FBM KLCI finished 3.41 points higher at 1,263.94 after opening 0.52 of a point lower at 1,260.0 this morning.
Crude Palm Oil Snaps Three-Day Decline, Buoyed By Crude
Crude palm oil futures on Malaysia’s derivatives exchange ended higher Thursday, snapping a three-day decline as traders covered short positions in reaction to rising crude oil prices.
The benchmark March contract on the Bursa Malaysia Derivatives ended MYR54, or 2.2%, higher at MYR2,554 after reaching an intraday peak of MYR2,573.
However, a decline in Malaysia's palm oil exports prevented further gains on the BMD.
Malaysia's palm oil exports during the Dec. 1-25 period declined 11% compared with Nov. 1-25, to 1.0 million tons on a decline in purchases by China and India, both major buyers of the vegetable oil.
Exports to China declined 10% to 277,110 tons while shipments to India fell 46% to 131,000 tons, data from cargo surveyor Intertek Agri Services showed.
Shipping executives and traders said exports during the full month of December will likely decline by 10% on month to around 1.28 million tons.
The weak export demand may lead to a slight build in December palm oil stocks, which could result in selling pressure, trade participants said.
As at end-November domestic palm reserves were at 1.93 million tons, the Malaysian Palm Oil Board said recently.
"Currently there are more imports from Indonesia compared with palm oil shipments out of Malaysia, and the momentum of exports is weak," said a Pasir Gudang-based shipping executive.
On Monday, another cargo surveyor SGS (Malaysia) Bhd. is expected to issue data on Malaysia's Dec. 1-25 palm oil exports.
At 1000 GMT, light, sweet crude for February delivery on the New York Mercantile Exchange was trading 40 cents higher at $77.07 a barrel after settling around 3% higher overnight.
January soyoil on the Chicago Board of Trade was trading 35 points higher at 38.43 cents a pound on e-CBOT by the end of trade on the BMD.
Cash palm olein for April/May/June was traded at $780/ton, free-on-board Malaysian ports, said a Singapore-based broker.
Cash CPO for prompt delivery was offered MYR50 higher at MYR2,500/ton.
The underlying FBM KLCI finished 3.41 points higher at 1,263.94 after opening 0.52 of a point lower at 1,260.0 this morning.
Crude Palm Oil Snaps Three-Day Decline, Buoyed By CrudeCrude palm oil futures on Malaysia’s derivatives exchange ended higher Thursday, snapping a three-day decline as traders covered short positions in reaction to rising crude oil prices.
The benchmark March contract on the Bursa Malaysia Derivatives ended MYR54, or 2.2%, higher at MYR2,554 after reaching an intraday peak of MYR2,573.
However, a decline in Malaysia's palm oil exports prevented further gains on the BMD.
Malaysia's palm oil exports during the Dec. 1-25 period declined 11% compared with Nov. 1-25, to 1.0 million tons on a decline in purchases by China and India, both major buyers of the vegetable oil.
Exports to China declined 10% to 277,110 tons while shipments to India fell 46% to 131,000 tons, data from cargo surveyor Intertek Agri Services showed.Shipping executives and traders said exports during the full month of December will likely decline by 10% on month to around 1.28 million tons.
The weak export demand may lead to a slight build in December palm oil stocks, which could result in selling pressure, trade participants said.
As at end-November domestic palm reserves were at 1.93 million tons, the Malaysian Palm Oil Board said recently.
"Currently there are more imports from Indonesia compared with palm oil shipments out of Malaysia, and the momentum of exports is weak," said a Pasir Gudang-based shipping executive.On Monday, another cargo surveyor SGS (Malaysia) Bhd. is expected to issue data on Malaysia's Dec. 1-25 palm oil exports.
At 1000 GMT, light, sweet crude for February delivery on the New York Mercantile Exchange was trading 40 cents higher at $77.07 a barrel after settling around 3% higher overnight.
January soyoil on the Chicago Board of Trade was trading 35 points higher at 38.43 cents a pound on e-CBOT by the end of trade on the BMD.
Cash palm olein for April/May/June was traded at $780/ton, free-on-board Malaysian ports, said a Singapore-based broker.Cash CPO for prompt delivery was offered MYR50 higher at MYR2,500/ton.
Open interest on the BMD was 80,746 lots Thursday, down from 82,890 lots. One lot is equivalent to 25 tons.
A total of 8,262 lots of CPO were traded versus 12,065 lots Wednesday.
A total of 8,262 lots of CPO were traded versus 12,065 lots Wednesday.
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