MARKET REPORT

CPO FUTURES PRICES AT MDEX (IN RINGGIT MALAYSIA)

Month	Last	Previous	Change	High	Low
Sep’14	1940	1984	-44	1979	1922
Oct’14	1929	1976	-47	1980	1927
1982	1930	1979	-49	1984	1926
Dec’14	1968	2012	-44	2015	1961
Volume	59300

 

Bearish sentiments seemed overbearing these days as another conventional profit taking Friday was breached as late selling pressure plunged prices by 49 points at closing. There was no fresh news and soyoil futures were merely 10 points lower.

 

PHYSICAL MARKET PRICES FOR REFINED OILS & FATS

PRODUCTS	Sep’14	Oct’14	OND’14	JFM’15	AMJ’15
RBD PALM OLEIN	665	655	655	687.5	700
RBD PALM OIL	662.5	652.5	652.5	685	697.5
RBD PALM STEARIN	645
PALM FATTY ACID DISTILLATES	630
CRUDE PALM OIL (M$)	1970
CRUDE PALM KERNEL OIL (M$) PER PICUL	150
RBD PALM KERNEL OIL	930
RBD PALM KERNEL OLEIN	830
RBD PALM KERNEL STEARIN	1100
INDONESIAN CRUDE PALM OIL	Na	622.5	622.5	672.5

 

Trading activities were healthy today at the physical market as deals were locked in early and late as well as a combination of prudence and opportunity had buyers out to cover as prices of olein dipped upto US$15 and minor products having eased similarly too.

MARKET REPORT

CPO FUTURES PRICES AT MDEX (IN RINGGIT MALAYSIA).

Month	Last	Open	Change	High	Low
Sep’14	1968	1984	-16	1979	1968
Oct’14	1965	1976	-11	1980	1965
Nov’14	1968	1979	-11	1984	1968
Dec’14	2002	2012	-10	2015	2002
Volume	11388

 

CPO futures down 11 points at midday closing today without any clear directions in sight. Soyoil futures also closed unchanged last night and now marginally up

 

PHYSICAL MARKET PRICES FOR REFINED OILS & FATS

PRODUCTS	Sep’14	Oct’14	OND’14	JFM’15	AMJ’15
RBD PALM OLEIN	675	665	665	690	705
RBD PALM OIL	672.5	662.5	662.5	687.5	702.5
RBD PALM STEARIN	650
PALM FATTY ACID DISTILLATES	635
CRUDE PALM OIL (M$)	2010
CRUDE PALM KERNEL OIL (M$) PER PICUL	158
RBD PALM KERNEL OIL	950
RBD PALM KERNEL OLEIN	850
RBD PALM KERNEL STEARIN	1120
INDONESIAN CRUDE PALM OIL	Na	Na	637.5	675	705

MARKET REPORT

CPO FUTURES PRICES AT MDEX (IN RINGGIT MALAYSIA)

Month	Last	Previous	Change	High	Low
Sep’14	1985	1996	-11	2000	1978
Oct’14	1972	1974	-2	1997	2967
1982	1978	1972	6	2001	1965
Dec’14	2010	2009	1	20332	2000
Volume	49349

 

The CPO futures market closed slightly higher today as the feverish subsided and players looking about for the next leads now that the market has mostly discounted the ensuing bearish sentiments.

 

PHYSICAL MARKET PRICES FOR REFINED OILS & FATS

PRODUCTS	Sep’14	Oct’14	OND’14	JFM’15	AMJ’15
RBD PALM OLEIN	680	667.5	665	692.5	710
RBD PALM OIL	677.5	665	662.5	690	707.5
RBD PALM STEARIN	655
PALM FATTY ACID DISTILLATES	640
CRUDE PALM OIL (M$)	2020
CRUDE PALM KERNEL OIL (M$) PER PICUL	157
RBD PALM KERNEL OIL	950
RBD PALM KERNEL OLEIN	850
RBD PALM KERNEL STEARIN	1120
INDONESIAN CRUDE PALM OIL	Na	645	645	680	710

 

Over at the physical oil market, prices are starting to turn upwards for very forward positions as seen by interests and deals concluded for JFM and AMJ’15 olein which gained by upto US$10 in contrast with the nearby months which were recording unchanged prices.

MARKET REPORT

CPO FUTURES PRICES AT MDEX (IN RINGGIT MALAYSIA).

Month	Last	Open	Change	High	Low
Sep’14	1979	1996	-17	1996	1979
Oct’14	1977	1974	3	1987	1967
Nov’14	1978	1976	2	1988	1965
Dec’14	2008	2009	-1	2019	2000
Volume	13447

 

About unchanged as at midday closing.

 

PHYSICAL MARKET PRICES FOR REFINED OILS & FATS

PRODUCTS	Sep’14	Oct’14	OND’14	JFM’15	AMJ’15
RBD PALM OLEIN	680	672.5	665	685	700
RBD PALM OIL	677.5	670	662.5	682.5	697.5
RBD PALM STEARIN	650
PALM FATTY ACID DISTILLATES	640
CRUDE PALM OIL (M$)	2010
CRUDE PALM KERNEL OIL (M$) PER PICUL	159
RBD PALM KERNEL OIL	950
RBD PALM KERNEL OLEIN	850
RBD PALM KERNEL STEARIN	1120
INDONESIAN CRUDE PALM OIL	Na	647.5	645	682.5	702.5

MARKET REPORT

CPO FUTURES PRICES AT MDEX (IN RINGGIT MALAYSIA)

Month	Last	Previous	Change	High	Low
Sep’14	1995	2035	-40	2057	1995
Oct’14	1973	2007	-34	2048	1972
Nov’14	1978	2012	-34	2052	1973
Dec’14	2062	2080	-18	2121	2060
Volume	55294

 

The CPO futures market saw all of its gains in the afternoon trimmed to losses at closing as a late bout of selling during the 2^nd half session on the strength of the Ringgit erased any bullish notions. Volumes were active at 55294 lots done.

 

PHYSICAL MARKET PRICES FOR REFINED OILS & FATS

PRODUCTS	Sep’14	Oct’14	OND’14	JFM’15	AMJ’15
RBD PALM OLEIN	680	667.5	665	680	700
RBD PALM OIL	677.5	665	662.5	677.5	697.5
RBD PALM STEARIN	655
PALM FATTY ACID DISTILLATES	645
CRUDE PALM OIL (M$)	2020
CRUDE PALM KERNEL OIL (M$) PER PICUL	158
RBD PALM KERNEL OIL	950
RBD PALM KERNEL OLEIN	850
RBD PALM KERNEL STEARIN	1120
INDONESIAN CRUDE PALM OIL	Na	650	647.5	682.5	702.5

 

The physical oil market saw worried buyers covering early today for olein as the stronger Ringgit made US$ more expensive but most then kept away from the market towards closing as CPO futures lost heavily. Most refined products ended about unchanged to slightly easier.

MARKET REPORT

CPO FUTURES PRICES AT MDEX (IN RINGGIT MALAYSIA)

Month	Last	Previous	Change	High	Low
Sep’14	2035	2049	-14	2057	1999
Oct’14	2011	2030	-19	2026	1983
Nov’14	2016	2032	-16	2028	1984
Dec’14	2077	2095	-18	2095	2053
Volume	43731

 

The CPO futures market goes off to a bad start today with the market looking set to lose all its gains at the midday’s closing but a spurt of buying towards closing ensured that there was still some spares as losses were trimmed to just 16 points.

 

PHYSICAL MARKET PRICES FOR REFINED OILS & FATS

PRODUCTS	Sep’14	Oct’14	OND’14	JFM’15	AMJ’15
RBD PALM OLEIN	675	670	667.5	687.5	700
RBD PALM OIL	672.5	667.5	665	685	697.5
RBD PALM STEARIN	655
PALM FATTY ACID DISTILLATES	645
CRUDE PALM OIL (M$)	2030
CRUDE PALM KERNEL OIL (M$) PER PICUL	158
RBD PALM KERNEL OIL	950
RBD PALM KERNEL OLEIN	850
RBD PALM KERNEL STEARIN	1120
INDONESIAN CRUDE PALM OIL	Na	655	650	687.5	712.5

 

The market softened up a little bit as covering paused today as the CPO futures prices eased up. Olein was traded US$2.50 – 5 cheaper while by products were similarly easier with no trades.

MARKET REPORT

CPO FUTURES PRICES AT MDEX (IN RINGGIT MALAYSIA).

Month	Last	Open	Change	High	Low
Sep’14	2029	2049	-20	2057	2029
Oct’14	2006	2030	-24	2026	2006
Nov’14	2009	2030	-21	2028	2005
Dec’14	2032	2053	-21	2055	2031
Volume	16593

 

The CPO futures market closed this morning down 21 points as bears staged more selling after yesterday’s rebound. Does not look like it will go away so easily. Volumes quite healthy at 16593 lots.

 

PHYSICAL MARKET PRICES FOR REFINED OILS & FATS

PRODUCTS	Sep’14	Oct’14	OND’14	JFM’15	AMJ’15
RBD PALM OLEIN	675	670	667.5	682.5	695
RBD PALM OIL	672.5	667.5	665	680	692.5
RBD PALM STEARIN	655
PALM FATTY ACID DISTILLATES	645
CRUDE PALM OIL (M$)	2030
CRUDE PALM KERNEL OIL (M$) PER PICUL	160
RBD PALM KERNEL OIL	950
RBD PALM KERNEL OLEIN	850
RBD PALM KERNEL STEARIN	1120
INDONESIAN CRUDE PALM OIL	Na	665	650	682.5	707.5

MARKET REPORT

CPO FUTURES PRICES AT MDEX (IN RINGGIT MALAYSIA)

Month	Last	Previous	Change	High	Low
Sep’14	2050	2021	29	2050	1980
Oct’14	2030	1993	37	2046	1951
Nov’14	2027	1999	28	2045	1954
Dec’14	2051	2023	28	2067	1980
Volume	60811

 

Alas some semblance of normalcy returned but not until everyone was held to the edge of the cliff as CPO futures prices recovered from a sharp loss of 41 points in the morning session to close the day with a resounding recovery to end with a + 28 points gain. In truth the market was grossly overdone and some measure of retracement will be just right to take some pressure off the market. Meanwhile surveyors ITS and SGS have sizeable variances in their 1-25/August export reports. Volumes posted a record high of 60811 lots !

 

PHYSICAL MARKET PRICES FOR REFINED OILS & FATS

PRODUCTS	Sep’14	Oct’14	OND’14	JFM’15	AMJ’15
RBD PALM OLEIN	677.5	672.5	672.5	690	700
RBD PALM OIL	675	670	670	687.5	697.5
RBD PALM STEARIN	660
PALM FATTY ACID DISTILLATES	650
CRUDE PALM OIL (M$)	2030
CRUDE PALM KERNEL OIL (M$) PER PICUL	161
RBD PALM KERNEL OIL	950
RBD PALM KERNEL OLEIN	850
RBD PALM KERNEL STEARIN	1150
INDONESIAN CRUDE PALM OIL	Na	Na	657.5	685

 

Trading pace at the refined palm oil market was quite frenetic with lots of deals being done for olein as prices yo-yoed widely from morning to evening. Seems that buyers were mostly correct today in covering early and persisted till near closing culminated to olein ending higher by about US$10 and the minor products though weak, commanded a more defensive closing.

MARKET REPORT

CPO FUTURES PRICES AT MDEX (IN RINGGIT MALAYSIA).

Month	Last	Open	Change	High	Low
Sep’14	1980	2021	-41	2028	1980
Oct’14	1956	1993	-37	1997	1951
Nov’14	1958	1999	-41	2002	1954
Dec’14	1982	2023	-41	2027	1980
Volume	17890

 

The CPO futures market closed this morning with a lot of nervousness as prices shed 41 points and well below the 2000 psychological support level after surveyor ITS reported a 15.31% decline in 1-25/Aug export.

 

PHYSICAL MARKET PRICES FOR REFINED OILS & FATS

PRODUCTS	Sep’14	Oct’14	OND’14	JFM’15	AMJ’15
RBD PALM OLEIN	670	650	650	667.5	667.5
RBD PALM OIL	667.5	647.5	647.5	665	665
RBD PALM STEARIN	645
PALM FATTY ACID DISTILLATES	635
CRUDE PALM OIL (M$)	1990
CRUDE PALM KERNEL OIL (M$) PER PICUL	159
RBD PALM KERNEL OIL	945
RBD PALM KERNEL OLEIN	845
RBD PALM KERNEL STEARIN	1145
INDONESIAN CRUDE PALM OIL	Na	655	645

 

MARKET REPORT

CPO FUTURES PRICES AT MDEX (IN RINGGIT MALAYSIA)

Month	Last	Previous	Change	High	Low
Sep’14	2020	2055	-35	2063	2020
Oct’14	1987	2036	-49	2042	1985
Nov’14	2000	2039	-39	2044	1989
Dec’14	2019	2059	-40	2063	2014
Volume	48181

 

Something is not so right in the CPO market as it continues to leach prices for 2 consecutive conventionally profit taking Fridays and this time with 39 points lower as sentiments continue to take a battering towards closing with a massive selldown. Volumes were heavy at 48181 lots.

 

PHYSICAL MARKET PRICES FOR REFINED OILS & FATS

PRODUCTS	Sep’14	Oct’14	OND’14	JFM’15	AMJ’15
RBD PALM OLEIN	680	665	665	680	690
RBD PALM OIL	677.5	662.5	662.5	677.5	687.5
RBD PALM STEARIN	660
PALM FATTY ACID DISTILLATES	650
CRUDE PALM OIL (M$)	2040
CRUDE PALM KERNEL OIL (M$) PER PICUL	161
RBD PALM KERNEL OIL	950
RBD PALM KERNEL OLEIN	850
RBD PALM KERNEL STEARIN	1150
INDONESIAN CRUDE PALM OIL	Na	Na	645	670

 

The physical palm oil market was heavily traded today as olein attracted strong covering the whole day probably because it was a Friday and then when prices eased lower in the afternoon. It was just plain attractiveness of the lower levels that drew buyers in. Products all lost US$10.