Login ID:
Password:
Partner Login
Contact Us : 7066511911

BMD CPO mid-day close: Palm oil drops over 1% on cheaper rival oils

25 Jan 2021 11:42 am
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

Mumbai (Commodities Control) – The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange declined 49 RM, to 3,233 RM/MY in early trade.


Malaysian palm oil futures fell for a second consecutive session on Monday, tracking losses in rival vegetable oils on the Dalian Commodity Exchange and Chicago Board of Trade (CBOT).


It reported a 0.2% fall in the previous session on Friday and saw its second weekly loss as exports continued to drop.


Prices are down due to spillover weakness from external markets.


CBOT soybean futures extended losses on Monday as rains in South American growing regions eased concerns about tight global supplies. Soyoil prices on the CBOT BOcv1 were last down 0.2%.


Cargo surveyors have released Jan. 1-25 export data, and in line with expectations of market participants exports plunged by a 35-36% on the month.


Malaysia 1-25 Jan 2021 vs. 1-25 Dec 2020 export (in mt)

Amspec: 872,707 vs. 1,343,799 (-471,092 or down 35.06%)

ITS: 851,730 vs. 1,333,543 (- 481,813 or down 36.13%)


BMD CPO 3M futures are likely to stabilise towards 3150/3200 RM/MT in coming sessions.


MCX CPO 1M futures to trade towards 900/925 Rs/10 kg.


(Commodities Control Bureau)


N       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Top | Post Comment  

Latest Market Commentary
Oilseed Commentary: CBOT Soybean close firm on troublin...
Vegoils Commentary: Futures likely to steady on surging...
Oilseed Commentary: NCDEX Soybean close below 5000 Rs/Q...
BMD Close: Palm firms for second day on rival soyoil st...
BMD Mid-day Close: Palm firms for second day on rival s...
more
Top 5 News
China Steel Rebar Inventory Rose 6.56% on Week
China to Strengthen Mineral Resources Management in 202...
Pulses commentary: Chana futures may test support as de...
Oilseed Commentary: CBOT Soybean close firm on troublin...
Vegoils Commentary: Futures likely to steady on surging...
Top 5 Special Reports
Weekly: Chana-Masoor Prices Gain Most This Week, Urad-...
Weekly: ICE Cotton Suffers First Weekly Drop in Februar...
Weekly: Bullish Factors Intact in NY Sugar as Fund Buyi...
Pulses Special: Government Procurement Key to Price Ral...
Weekly: NY Cotton Extends Upward Rally, Finishes Above...
Copyright © CC Commodity Info Services LLP. All rights reserved.