Login ID:
Partner Login
Contact Us : 7066511911

BMD CPO close: Malaysia palm oil rises over 2% on U.S., China gains in rival oils

27 Jan 2021 7:07 pm
 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 rose 119 RM, to 3,385 RM/MT in today’s trade.

Malaysian palm oil futures jumped more than 2% on Wednesday, extending gains for a second consecutive session, as costlier rival oils in China and the United States made palm more attractive.

Soybeans on the Chicago Board of Trade traded 2% higher on Tuesday on worried about tightening U.S. and global soyoil supplies and spillover strength from a 4% jump in corn futures.

Chicago soybean futures rose to a two-week high, as China's purchase of U.S. supplies of the grain hit the highest level since July, while slow harvesting in Brazil due to rains supported soybean prices.

As anticipated earlier, BMD CPO 3M futures traded towards 3400 RM/MT in today’s session. We expect prices to move higher towards 3450/3500 RM/MT.

In line with our expectations, MCX CPO 1M futures traded towards 950 Rs/10 kg. We expect prices to stay above 3300 and trade towards 3450 RM/MT.

(Commodities Control Bureau)

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

   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
ICE Raw Sugar Ends Moderately Higher; Cushioned by Gain...
Madhya Pradesh Sugar Mill Prices – 05 MARCH 2021
Gujarat Sugar Mill Prices –05 MARCH 2021
MAHARASHTRA Sugar Mill Prices – 05 MARCH 2021
Uttar Pradesh Sugar Mill Prices -05 MARCH 2021
Top 5 News
39% APMCs in Maharashtra Join e-NAM
Nafed Sale Details of Various Pulses/Oilseed On 5th Mar...
Gujarat Cotton Improves on Lower Level Buying amid Redu...
North Indian Cotton Rebounds Rs 15/Maund Tracking Posit...
Oilseed Commentary: CBOT Soybean close firm on rising d...
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.