How to trade Crude Palm Oil Futures ( FCPO ) 15122016

#fcpo
#palmoil

Palm oil for Feb. delivery advances as much as 1.9% to 3,183 ringgit/ton on Bursa Malaysia Derivatives, rising 3rd day.

• Futures at 3,176 ringgit by midday break in Kuala Lumpur; +28% YTD
• Palm oil driven higher by weak ringgit as well as lower-than-expected production and stockpiles in November, according to David Ng, derivatives specialist at Phillip Futures in Kuala Lumpur
• NOTE: Ringgit -0.4% Thursday
  • INSIDE MALAYSIA: Ringgit Falls; Kokusai Says MYR Most Vulnerable
• NOTE: Malaysia Palm Oil Output Slides More Than Expected in November
  • Production -6.1% m/m to 1.57m tons, stockpiles +5.2% m/m to 1.66m tons
• NOTE: CIMB Cuts Malaysia 2016 Palm Oil Output Estimate to 17.3m Tons
• Market may have priced in the drop in Malaysian palm oil exports as a seasonal trend: Ng
• NOTE: Malaysia’s Dec. 1-15 palm oil exports -7.6% m/m to 481,349 tons: Intertek
• Soybean oil for Jan. delivery on Chicago Board of Trade +0.2% to 36.99c/lb; Jan. soybeans +0.1% to $10.24 1/2/bu
• Soybean oil’s premium over palm oil at ~$103/ton vs avg ~$93 over past year: data compiled by Bloomberg
• Palm oil’s premium over gasoil at ~$232/ton vs avg ~$232 over past year: data compiled by Bloomberg
• May refined palm oil on Dalian Commodity Exchange +2.7% to 6,470 yuan/ton; Jan. soybean oil +0.7% to 7,092 yuan/ton