How to trade Crude Palm Oil Futures ( FCPO ) 08022017

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PALM OIL: Futures Rise as Traders Weigh Malaysian Supply Outlook


By Anuradha Raghu
     (Bloomberg) -- Palm oil for April delivery closes +0.5% at
3,082 ringgit/ton on Bursa Malaysia Derivatives, highest for
most-active contract since Jan. 26.

  * While gains in soybean oil on Monday initially boosted
    prices, a lack of follow-through buying prevented palm oil
    from breaking above 3,100 ringgit and prompted some profit-
    taking, says Josephine Goh, associate director of futures
    and commodities at RHB Investment Bank
    * Low palm inventories will support prices, “people are
      still waiting for more clues to know where we stand on
      production and stockpiles,” Goh says
  * NOTE: Palm Oil Stockpiles in Malaysia Seen Slumping to 5-
    Month Low
    * Jan. inventories seen -11% m/m to 1.49m tons; output
      -9.5% m/m to 1.33m tons
    * NOTE: Malaysia to release data on stockpiles, production
      and exports on Friday
  * NOTE: Malaysian Jan. crude palm oil production -13.1% m/m to
    ~1.28m tons, according to estimates by the Malaysian Palm
    Oil Association
    * Output seen -14.6% m/m in Peninsular Malaysia; -10.3%
      m/m in East Malaysia
  * Soybean oil for March delivery on Chicago Board of Trade
    +0.2% to 34.49c/lb, +1.7% Monday; March soybeans +0.1% to
    $10.37/bu
  * Soybean oil’s premium over palm oil at ~$66/ton vs avg ~$91
    over past year: data compiled by Bloomberg
  * Palm oil’s premium over gasoil at ~$202/ton vs avg ~$224
    over past year: data compiled by Bloomberg
  * May refined palm oil on Dalian Commodity Exchange closes
    -0.3% at 6,124 yuan/ton; May soybean oil -0.3% at 6,844
    yuan/ton