CPO Futures To Trade Range-Bound by admin- Tuesday, January 4th, 2022 07:49:03 AM
Palm oil trader David Ng stated the traders lacked sparkling leads, specially on manufacturing and export statistics for this month.
The crude palm oil (CPO) futures settlement on Bursa Malaysia Derivatives is predicted to exchange in range-bound mode this week, as market gamers lack movement catalysts.
Palm oil dealer David Ng stated the investors lacked fresh leads, specially on production and export information for this month.
“Basically, market players lack any news catalyst that may force CPO fees higher,” he instructed Bernama.
Hence, he stated the futures contract is predicted to alternate between RM4,500 and RM4,800 in keeping with tonne.
Meanwhile Singapore-based Palm Oil Analytics proprietor and co-founder Sathia Varqa stated this week’s trading might be based at the Malaysian Palm Oil Association palm oil industry performance statistics for December 2021.
“Traders will also undertake a cautious stance following the supply and call for estimate from pollsters beforehand of the Malaysian Palm Oil Board information on Jan 10, 2022,” he said.