How to trade Crude Palm Oil Futures ( FCPO ) 19 Aug 2016

#fcpo
#palmoil

(Aug 19): Malaysian palm oil futures rose on Friday to post their third consecutive weekly gain, boosted by tight supplies and expectations of higher exports.

Benchmark palm oil futures for November on the Bursa Malaysia Derivatives Exchange rose 0.1% to RM2,578 (US$643) per tonne at the close of trade, after dropping more than 2% in the previous session. Traded volumes stood at 54,374 lots of 25 tonnes each on Friday evening, versus the 2015 average of 44,600.

For the week, prices are up 2.1%, led by gains on Wednesday when the market posted its biggest daily rise in more than 10 months.

Tight supplies and the anticipation of good exports have driven gains, according to a trader from Kuala Lumpur.

Exports of Malaysian palm oil products jumped more than 30% month on month over Aug. 1-15, according to cargo surveyors. Intertek Testing Services is scheduled to release data for Aug. 1-20 shipments on Saturday.

Expectations of continued firm demand for exports, together with lower-than-anticipated output due to a crop-damaging El Nino last year that brings scorching heat and dry weather across Southeast Asia, helped push up palm prices by close to 10% over the past two weeks.

The El Nino weather pattern typically hurts fruit yields across top palm producers Indonesia and Malaysia, which account for nearly 90% of the global palm oil output.  

Palm oil is expected to retest a resistance at RM2,651 per tonne, a break above which could lead to a gain to the next resistance at RM2,761, said Wang Tao, a Reuters market analyst for commodities and energy technicals.

In related vegetable oils, the Chicago Board of Trade soybean oil December contract fell 1.3%, while the January soybean oil contract on the Dalian Commodity Exchange was also slightly down by 0.1%.

How to trade FTSE Bursa Malaysia KLCI Futures ( FKLI ) 19 Aug 2016

#fkli
#klci

How to trade Crude Palm Oil Futures ( FCPO ) 18 Aug 2016

#fcpo
#palmoil

(Aug 18): Malaysian palm oil futures retreated from a 10-week high in early trade on Thursday, falling in a market correction and dragged down by a stronger ringgit.

Benchmark palm oil futures for October on the Bursa Malaysia Derivatives Exchange declined 2.5% to hit RM2,578 (US$646) per tonne at the end of the trading day, having touched a high of RM2,668 on Wednesday evening.

The market rose 4% on Wednesday in its strongest one-day gain in over 10 months on higher exports and tight supplies, with palm output still suffering from last year's crop damaging El Nino, which brings dry weather across Southeast Asia and lowering fruit yields.  

Palm is up about 4.6% so far for the week.

Traded volumes stood at 63,719 lots of 25 tonnes each on Thursday evening, versus the 2015 average of 44,600.

"The market pulled back after it went too high, it cannot go higher than what people are willing to pay," said a trader from Kuala Lumpur.

The stronger ringgit on Thursday evening also weighed on palm, traders said, making the tropical oil more expensive for foreign currency holders. The ringgit, palm's traded currency, rose 0.4% against the dollar to 3.9925 in the evening.

Palm oil may rise to a range of RM2,761-2,897 per tonne in four weeks, according to Reuters market analyst for commodities and energy technicals Wang Tao.

In related vegetable oils, the Chicago Board of Trade soybean oil December contract fell 1.1%, while the January soybean oil contract on the Dalian Commodity Exchange was up 0.6%.

How to trade FTSE Bursa Malaysia KLCI Futures ( FKLI ) 18 Aug 2016

#fkli
#klci

How to trade Crude Palm Oil Futures ( FCPO ) 16 Aug 2016

#FCPO
#PALMOIL

(Aug 16): Malaysian palm oil futures fell from a 10-week high on Tuesday as investors cashed in on the recent strength in prices and the ringgit rose, limiting demand for futures.

A stronger ringgit usually makes palm oil more expensive for foreign currency holders, as the ringgit is palm's traded currency.

Palm climbed to its highest since June 7 in the previous session, recording its strongest gains in nearly a year on the back of higher export demand and tracking firmer rival oils.

Benchmark palm oil futures for October on the Bursa Malaysia Derivatives Exchange fell 1.4% to RM2,542 (US$638) per tonne on Tuesday evening, its sharpest decline since July 8.

Traded volumes stood at 61,873 lots of 25 tonnes each at the close of trade, higher than the 2015 average of 44,600.

"It's profit taking on the back of an overbought market, and the ringgit," said a Kuala Lumpur-based trader, adding that the market may track better performing rival oils on China's Dalian Commodity Exchange.

"If its strength persists, palm will go up."

Palm's price has been influenced by the Dalian market, as they compete for a share of the global vegetable oils market. The January soybean oil contract on the Dalian Commodity Exchange was up 1.7% on Tuesday, while the January contract for RBD palm olein rose 1.8%.

In other related oils, the Chicago Board of Trade soybean oil December contract declined 0.5%.

A stronger ringgit also weighed down on palm prices, as it gained 0.6% to reach 3.9830 against the dollar around on Tuesday evening.

Palm oil may stabilise around support at RM2,543 per tonne, and then retest resistance at RM2,610, according to Reutersmarket analyst for commodities and energy technicals Wang Tao.

How to trade FTSE Bursa Malaysia KLCI Futures ( FKLI ) 16 Aug 2016

#FKLI
#KLCI

How to trade Crude Palm Oil Futures ( FCPO ) 17 Aug 2016

#FCPO
#PALMOIL

 (Aug 17): Malaysian palm oil futures notched up their strongest gains in over 10 months, closing more than 4% higher on Wednesday, as tight supplies lent support to the market.

A stronger ringgit and a technical correction led palm to snap two consecutive days of gains in its previous session, having earlier climbed to a 10-week high tracking firmer exports and rival oils.

A stronger ringgit, palm's traded currency, usually makes the vegetable oil more expensive for foreign currency holders.

Benchmark palm oil futures for October on the Bursa Malaysia Derivatives Exchange rose 4.1% to RM2,643 (US$659) per tonne at the end of the trading day, charting a third session of gains in four.

It earlier reached an intraday high of RM2,668, its strongest gain since last Sept. 25 and its highest levels since June 7.

Traded volumes stood at 76,039 lots of 25 tonnes each on Tuesday evening, surpassing the 2015 average of 44,600.

The share of palm oil in India's growing edible oil imports is likely to reach a record low this marketing year as palm's price rally slashes its discount over soyoil.

"There is tightness in supply... because of the El Nino effect," said a trader based in Kuala Lumpur, adding that he expected the trend to continue for another month.

"Hopefully demand doesn't propel (prices upwards) as now soy prices are also going up."

Another trader said today's public holiday in Indonesia reduced the number of sellers in the market, adding to the existing squeeze in supply.

Palm oil output in Malaysia, the world's second-largest producer, rose 3.5% month-on-month in July to 1.59 million tonnes. Production, however, was at its weakest July level in six years due to El Nino's dry weather effects.

The weather phenomenon brings scorching heat across Southeast Asia, damaging crops and lowering palm yields in top palm producers Indonesia and Malaysia.

In related vegetable oils, the January soybean oil contract on the Dalian Commodity Exchange was up 0.5%, while the Chicago Board of Trade soybean oil December contract rose 1.7%.

How to trade FTSE Bursa Malaysia KLCI Futures ( FKLI ) 17 Aug 2016

#FKLI
#KLCI

How to trade Crude Palm Oil Futures ( FCPO ) 15 Aug 2016

#FCPO
#PALMOIL

Malaysian palm oil futures made their biggest gains in nearly a year, charting a second positive session on Monday evening, tracking firmer competing vegetable oils and supported by strong export data.

Benchmark palm oil futures for October on the Bursa Malaysia Derivatives Exchange surged 3.8% to 2,622 ringgit (US$655) per tonne at the end of the trading day. Palm
earlier reached a 10-week top of 2,633 ringgit, its highest since June 7. Palm's rise on Monday was its strongest since Sept 25.

Traded volumes stood at 65,845 lots of 25 tonnes each in the evening, higher than the 2015 average of 44,600.

"Overseas commodities are firm," said a futures trader from Kuala Lumpur, referring to palm's rival oils such as soybean oil on the Chicago Board of Trade and the Dalian Commodity Exchange's refined, bleached and deodorised (RBD) palm olein.

Another trader said the market was up on strong export figures and tracking Dalian's RBD palm olien.

Palm oil's price direction is typically influenced by competing oilseeds and grains like soy, as they compete for a share in the global vegetable oils market.

U.S. soybean futures recovered losses on Monday on better demand from top market China.

The Chicago Board of Trade soybean oil December contract rose 1.8%, while the January soybean oil contract on the Dalian Commodity Exchange surged 2.8%.

Dalian's January contract for RBD palm olein was up 4%.

Stronger exports to China and India also lent support to the market, as data from cargo surveyors Intertek Testing Services and Societe Generale de Surveillance showed a 30%-31% rise in Malaysian shipments in the first half of August, versus the same time last month.  

How to trade FTSE Bursa Malaysia KLCI Futures ( FKLI ) 15 Aug 2016

#FKLI
#KLCI

How to trade FTSE Bursa Malaysia KLCI Futures ( FKLI ) 11 Aug 2016

#fkli
#klci

How to trade Crude Palm Oil Futures ( FCPO ) 11 Aug 2016

#fcpo
#palmoil

Malaysian palm oil futures snapped a three-day rally on Thursday evening, falling from a near two-month high reached in the previous session and tracking weaker rival oils.

Benchmark palm oil futures for October on the Bursa Malaysia Derivatives Exchange fell 0.6% to 2,484 ringgit (US$621) per tonne at the end of the trading day, dropping from a previous session's top of 2,512 ringgit, the strongest levels since June 14.

Traded volumes stood at 64,719 lots of 25 tonnes each in the evening, higher than last year's average of 44,600.

"Overseas markets are softer today," said a trader from Kuala Lumpur, referring to competing vegetable oils such as soyoil.

"We are also undergoing a technical correction, as it is overdone on yesterday's sharp move up."

Palm oil rose for a third straight session on Wednesday afternoon, after official data from government body the Malaysian Palm Oil Board (MPOB) showed that stockpiles for end-July unexpectedly declined.

Inventories had fallen by 0.2% from June to reach 1.77 million tonnes, against a Reuters forecast of a 3.1% rise to 1.83 million tonnes.

MPOB data also showed that exports surged 21% lifted by better demand from China, the world's second largest importer of palm oil, while July production rose 3.5%
month-on-month to 1.59 million tonnes.

Weaker performing vegetable oils also weighed on palm. The Chicago Board of Trade soybean oil December contract was down 1%, while the January soybean oil contract on the Dalian Commodity Exchange fell 1.5%.   

Palm oil may fall to 2,432 ringgit per tonne, as it failed again to break resistance at 2,489 ringgit, said Reuters market analyst for commodities and energy technicals Wang Tao.

How to trade Crude Palm Oil Futures ( FCPO ) 10 Aug 2016

#fcpo
#palmoil

Malaysian palm oil futures reversed losses to end the trading day higher on Wednesday, as official government data showed that stockpiles declined unexpectedly at the end of July.

The Malaysian Palm Oil Board (MPOB) said palm oil stocks at the end of last month were down 0.2% from end-June. Traders had been expecting palm stocks to rise 3.1%.

Benchmark palm oil futures for October on the Bursa Malaysia Derivatives Exchange rose 1.4% to RM2,500 (US$627) per tonne at the close of trade, charting an eighth session of advances in nine.

It earlier reached a more than two-month high of RM2,512, its strongest level since June 14. Traded volumes stood at 63,081 lots of 25 tonnes each on Wednesday evening, higher than the 2015 average of 44,600.

"The market had earlier been waiting for MPOB data," one Kuala Lumpur-based trader said.

"Polls thought end-stocks would go up, so this is a bullish factor."

End-July stockpiles in Malaysia, the world's second largest palm producer, fell by 0.2% from the previous month to 1.77 million tonnes, versus a Reuters forecast of 1.83 million tonnes.  

Palm output rose 3.5% month-on-month to 1.59 million tonnes, while exports surged 21% to 1.38 million tonnes.

In related vegetable oils, the January soybean oil contract on the Dalian Commodity Exchange was down 0.1% while the September soybean oil contract on the Chicago Board of Trade rose 1.3%.

How to trade FTSE Bursa Malaysia KLCI Futures ( FKLI ) 10 Aug 2016

#fkli
#klci

How to trade Crude Palm Oil Futures ( FCPO ) 9 Aug 2016

#fcpo
#palmoil

Malaysian palm oil futures rose to their highest in two months on tight physical supplies of the tropical oil and as competing vegetable oils on China's Dalian Commodity Exchange also gained.

Benchmark palm oil futures for October delivery on the Bursa Malaysia Derivatives Exchange were up 1.1% at RM2,466 (US$612) per tonne on Tuesday evening.

Palm earlier hit an intraday high of RM2,490, its highest since June 15, and charted a seventh winning session out of the past eight.

Traded volumes stood at 40,029 lots of 25 tonnes each at the end of the trading day, below the 2015 average of 44,600.

"There's some nearby tightness in the market," said a futures trader in Kuala Lumpur, attributing it to better demand.

"There's slower growth in production also."

A Reuters poll forecast Malaysia's palm oil output for July to grow 3.8% month-on-month to 1.59 million tonnes, it's strongest production levels since November but the weakest level for July since 2010.

Palm oil seasonally sees output rise during the second and third quarters of the year. However, dry weather caused by the El Nino weather phenomenon earlier this year has limited palm fruit yields and lowered output across Indonesia and Malaysia. The weather event brings scorching heat across Southeast Asia, damaging crops and lowering yield.

The poll had also forecast Malaysia's shipments to rise 13.9% from June to 1.29 million tonnes, in line with export data from cargo surveyors.

Societe Generale de Surveillance reported a 15.4% rise for the full month of July, while Intertek Testing Services showed a 12.7% gain in exports.  

Official government data from the Malaysia Palm Oil Board is scheduled for release on Wednesday, after 0430 GMT.

Palm was also supported by stronger rival oils on the Dalian Commodity Exchange. It's January soybean oil contract was up 1.5%, while the January contract for refined, bleached and deodorized palm olein surged 2.5%.

In other related vegetable oils, the Chicago Board of Trade soybean oil contract for December was up 0.2%.

How to trade FTSE Bursa Malaysia KLCI Futures ( FKLI ) 9 Aug 2016

#fkli
#klci

How to trade FTSE Bursa Malaysia KLCI Futures ( FKLI ) 8 Aug 2016

#fkli
#klci

How to trade Crude Palm Oil Futures ( FCPO ) 8 Aug 2016

#fcpo
#palmoil

Malaysian palm oil futures rose on Monday as traders reported tight physical supplies for the month of August and the market tracked firmer rival vegetable oils on the Chicago and Dalian exchanges.

Benchmark palm oil futures for October delivery on the Bursa Malaysia Derivatives Exchange gained 1.4% to RM2,440 (US$605) per tonne at the close of trade.

Palm snapped five sessions of gains on Friday to record its sharpest fall in two weeks.

Traded volumes stood at 39,313 lots of 25 tonnes each on Monday evening, lower than the 2015 average of 44,600.

"People are talking about tightness in the market ... There is some demand from China and India coming in. The Mid-Autumn festival is coming in a month," said a trader based in Kuala Lumpur.

"US soybean and Dalian are also up. On Friday the market came down on profit-taking, so now it is back up."

China, the world's second largest palm oil consumer, will celebrate the Mid-Autumn festival in mid-September this year, leading to higher consumption of the tropical oil.

Cargo surveyor data had showed that palm oil exports from Malaysia rose 12-15% for the full month of July from June, boosted by demand from Europe and China.

A Reuters survey forecast that Malaysia's July exports will rise nearly 14% month-on-month, while inventories see a 3.1% gain to 1.83 million tonnes.

Official government data on stock levels and exports from the Malaysia Palm Oil Board are scheduled for release on Wednesday, after 0430 GMT.

Stronger performing rival oils also lent some support to palm on Monday morning, said traders. The Chicago Board of Trade soybean oil contract for December was up 0.6%, while the Dalian Commodity Exchange's January soybean oil contract gained 0.6%.

How to trade Crude Palm Oil Futures ( FCPO ) 5 Aug 2016

#FCPO
#palmoil

Malaysian palm oil futures fell on Friday from their seven-week highs hit in the previous session, as a stronger ringgit hurt prices.

The ringgit, the currency of trade for palm oil, was up 0.7% at 4.0200 per dollar on Friday evening, making the vegetable oil more expensive for holders of foreign currencies.

"The ringgit is one factor for a lower market today," said a trader based in Kuala Lumpur, adding: "The market has also moved up very fast in the last few days, so there is some correction."

Benchmark palm oil futures for October delivery on the Bursa Malaysia Derivatives Exchange were down 1.5% at RM2,407 (US$599) per tonne at the close of trade, its first fall in six sessions.  

They have added 3.9% so far this week, a third weekly gain in four.

Traded volumes stood at 36,962 lots of 25 tonnes each at on Friday evening.

Weakness in related vegetable oils could have also weighed on the market, said traders, along with forecasts of higher inventories ahead of the release of official government data next week.

In Malaysia, the world's second largest producer after Indonesia, palm oil inventories at the end of July likely rose 3.1% from a month earlier to a four-month high of 1.83 million tonnes, a Reuters poll showed.

The survey also forecast output likely gained 3.8% to 1.59 million tonnes, while exports surged 13.9%.

The Malaysian Palm Oil Board (MPOB) is scheduled to release July end-stocks data on Aug. 10, after 0430 GMT.

Palm oil may retrace to a support at RM2,390 per tonne, as it failed to break a resistance at RM2,458, said Reutersmarket analyst for commodities and energy technicals Wang Tao.

In other vegetable oils, the Chicago soybean oil contract for December fell 0.6%, while Dalian's January soybean oil contract dropped 0.6%.

How to trade FTSE Bursa Malaysia KLCI Futures ( FKLI ) 5 Aug 2016

#FKLI
#KLCI

How to trade Crude Palm Oil Futures ( FCPO ) 4 Aug 2016

#fcpo
#palmoil

Malaysian palm oil futures recouped losses to reach a near 7-week high on Thursday evening, supported by better demand as it charted a fifth consecutive session of gains.

Benchmark palm oil futures for October delivery on the Bursa Malaysia Derivatives Exchange rose 1.2% to RM2,444 (US$604) per tonne at the end of the trading day.

It beat Wednesday's top of RM2,419 to hit an intraday high of RM2,454, its strongest level since June 20.

Traded volumes stood at 42,523 lots of 25 tonnes each on Thursday evening, slightly below the 2015 average of 44,600.

"Demand is good, there's some covering in the market as supply is tight for August," said a trader based in Kuala Lumpur. "We see that exports are fairly good."

Palm oil product shipments from Malaysia, the world's second biggest producer after Indonesia, rose 12-15% for the full month of July from June, cargo surveyor data showed.

A rise in July exports would be a marked improvement from June's performance, which recorded a near 12% decline from May, according to government data.

The Malaysian Palm Oil Board (MPOB) is scheduled to release official data for July on Aug. 10, after 0430 GMT.

In related vegetable oils, the Chicago soybean oil contract for December rose 0.9%, while Dalian's January soybean oil contract gained 0.6%.

How to trade FTSE Bursa Malaysia KLCI Futures ( FKLI ) 4 Aug 2016

#fkli
#klci

How to trade FTSE Bursa Malaysia KLCI Futures ( FKLI ) 3 Aug 2016

#fkli
#klci

How to trade Crude Palm Oil Futures ( FCPO ) 3 Aug 2016

#fcpo
#palmoil

Malaysian palm oil futures surged to a six-week high on Wednesday evening, recording a fourth consecutive session of gains, as improved demand and a recovery in rival US soy supported prices.

Palm has pared some losses in the last three trading sessions, after falling to a one-week low, tracking weaker rival oils on China's Dalian Commodity Exchange.

Benchmark palm oil futures for October delivery on the Bursa Malaysia Derivatives Exchange gained 3.3% in evening trade, its strongest gains in 10 months, settling at RM2,415 (US$595) per tonne at the end of the day. It earlier rose to an intraday high of RM2,419, palm's strongest levels since June 21.

Traded volumes stood at 43,803 lots of 25 tonnes each on Wednesday evening, slightly below the 2015 average of 44,600.

One trader said the market was lifted by stronger short-term demand, while another said palm also rose on a weaker ringgit and better performing US soy on the Chicago Board of Trade.

"The recovery in US soy, which lifted China's Dalian Commodity Exchange, and a weaker ringgit helps as well," the trader said.

A weaker ringgit usually supports palm, as it makes the tropical oil cheaper for foreign currency holders. It weakened 0.7% to 4.0560 per dollar on Wednesday evening.

Palm typically tracks the performance of its rival oilseed soy, as they both compete for a share in the global vegetable oils market.

The Chicago soybean oil contract for December was up 1.4%, while the most active November soybean contract rose 0.9% on bargain hunting after falling to near four-month lows.

The January soybean oil contract on Dalian was up 0.7%.      

Palm oil shipments from Malaysia, the world's second-largest producer, rose 12-15% in July from June, supported by better demand from China and Europe.

How to trade Crude Palm Oil Futures ( FCPO ) 2 Aug 2016

#FCPO
#palmoil

Malaysian palm oil futures reversed earlier losses to rise in late trade on Tuesday, charting a third consecutive winning session, tracking stronger U.S. soyoil and Chinese refined, bleached and deodorized (RBD) palm olein.

Benchmark palm oil futures for October delivery on the Bursa Malaysia Derivatives Exchange gained 0.5% to reach 2,338 ringgit (US$580.40) per tonne at the close of trade.

Palm prices fluctuated early in the session, trading higher before falling to an intraday low of 2,303 ringgit.

Traded volumes stood at 39,102 lots of 25 tonnes each on Tuesday evening, lower than the 2015 average of 44,600.

"The market is supported by Chicago Board of Trade soyoil and Dalian's RBD palm olein," said a trader from Kuala Lumpur.

Palm oil often takes direction from related oil palm olein, and its rival oil soy as they both compete for a share in the global vegetable oil market.

Another trader had earlier said that palm was trading within a range, while waiting for new leads. While cargo surveyor data showed improving export demand for the month of July, a 12%-15% improvement from June, output is seen rising in line with seasonal trend.

Palm has been trading around eight-month low in the last three weeks, dragged down by weaker performing soy on Dalian and the Chicago Board of Trade. It declined 1.6% for a second monthly fall in July.

In related-vegetable oils, the Chicago soybean oil contract for December rose 0.9%, while Dalian's January soybean oil contract declined 0.1%.  

How to trade FTSE Bursa Malaysia KLCI Futures ( FKLI ) 2 Aug 2016

#FKLI

How to trade FTSE Bursa Malaysia KLCI Futures ( FKLI ) 1 Aug 2016

#FKLI

How to trade Crude Palm Oil Futures ( FCPO ) 1 Aug 2016

#FCPO
#palmoil

Malaysian palm oil futures rose to their highest levels in more than a week on Monday, supported by improving demand and a technical correction after trading at around 8-month lows.

Benchmark palm oil futures for October delivery on the Bursa Malaysia Derivatives Exchange rose 0.6% to close at RM2,329 per tonne. Palm earlier hit an intraday high of RM2,353, its strongest since July 21.

Traded volumes stood at 34,254 lots of 25 tonnes each at Tuesday's closing trade, lower than the 2015 average of 44,600.

"China is buying a bit, and also in India some tightness is being felt," said a trader from Kuala Lumpur, referring to the two largest palm consuming countries globally.

"The market was down for so long, it is time for a correction."

Palm plunged to a 10-month low last month on weak export data and a stronger ringgit, trading in the RM2,200-2,300 range. The market fell 1.6% in July, tracking poorer performing rival oils.

A stronger ringgit, palm's traded currency, usually makes the tropical oil more expensive for holders of foreign currencies.

Palm oil product exports from Malaysia, the world's second largest producer after Indonesia, gained 12-15% in the full month of July versus a month earlier, data from cargo surveyors Intertek Testing Services and Societe Generale de Surveillance showed on Monday.  

Traders had earlier forecast better export data, as buyers look to replenish stocks amid softer palm oil demand after the Muslim festive seasons of Ramadan and Eid-al-Fitr.  

Palm oil is expected to test a resistance at RM2,374 per tonne, showed analysis by Reuters market analyst for commodities and energy technicals Wang Tao.

In competing vegetable oils, the Chicago soybean oil contract for December fell 0.5%, while Dalian's January soybean oil contract rose 1.5%.