Malaysian CPO Futures To Trade At Current Level Next Week

KUALA LUMPUR, Sept 24 (Bernama) -- Malaysian crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives are likely to trade at the current level of between RM2,600 and RM2,800 a tonne next week. Interband Group of Companies senior palm oil trader Jim Teh said the market participants were awaiting fresh leads to steer the market, while production was expected to be higher on improving weather condition. On a Thursday-to-Friday basis, spot month October 2016 soared RM145 to RM2,863 a tonne, November 2016 increased RM137 to RM2,731 a tonne, December 2016 surged RM111 to RM2,676 a tonne, and January 2017 went up RM93 to RM2,651 a tonne. Weekly turnover was higher at 261,786 lots from 176,139 lots last Thursday while open interest fell to 241,936 contracts from 247,655 contracts previously. The bourse was closed last Friday for the Malaysia Day. On the physical market, October South stood at RM2,900 a tonne. -- BERNAMA