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KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to trend downward next week on profit-taking activities.
The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower on Thursday, weighed by ongoing concerns over rising production and lower soybean oil prices, a dealer said. Palm oil trader David Ng said those factors continued to pressure the CPO market performance on Thursday.
KUALA LUMPUR (Aug 17): Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives closed marginally higher on Wednesday (Aug 17), in line with gains in soybean oil prices, a dealer said.
Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives rebounded to close higher on Tuesday on the back of stronger soybean oil prices during the Asian hours, a dealer said. Mumbai-based Sunvin Group commodity research head Anilkumar Bagani said the recovery in the Chicago Board of Trade (CBOT) soybean oil futures has pushed the CPO demand further on Tuesday.