Palm rises but range-bound on expectations of higher inventories
MG News | November 02, 2021 at 09:25 AM GMT+05:00
November 2, 2021: Malaysian palm oil futures rose early on Tuesday, but traded mostly range-bound on market expectations of higher-end stocks for October.
The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange climbed 0.40% to 4,981 ringgit ($1,201.11) a tonne in early trade.
FUNDAMENTALS
At 0248 GMT, Dalian's palm oil contract was down 0.8%, and the most-active soyoil contract on the exchange also fell 0.4%. Soyoil prices on the Chicago Board of Trade rose 0.3%.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
Palm oil may retest a resistance at 5,048 ringgit per tonne, a break above could lead to a gain to 5,187 ringgit, Reuters technical analyst Wang Tao said.
Reuters
Related News
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 171,725.29 261.56M | 2.31% 3881.05 |
| ALLSHR | 103,214.49 498.64M | 2.00% 2024.02 |
| KSE30 | 51,517.14 135.33M | 2.40% 1209.13 |
| KMI30 | 246,565.71 111.44M | 2.29% 5524.54 |
| KMIALLSHR | 67,042.77 274.55M | 1.94% 1273.86 |
| BKTi | 47,299.71 43.26M | 3.04% 1394.54 |
| OGTi | 36,341.37 10.64M | 2.20% 783.44 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 77,150.00 | 77,935.00 76,105.00 | 1375.00 1.81% |
| BRENT CRUDE | 96.30 | 100.73 95.95 | -7.24 -6.99% |
| RICHARDS BAY COAL MONTHLY | 110.00 | 0.00 0.00 | -8.75 -7.37% |
| ROTTERDAM COAL MONTHLY | 113.00 | 0.00 0.00 | 0.30 0.27% |
| USD RBD PALM OLEIN | 1,157.50 | 1,157.50 1,157.50 | 0.00 0.00% |
| CRUDE OIL - WTI | 90.42 | 93.90 89.41 | -6.18 -6.40% |
| SUGAR #11 WORLD | 14.68 | 14.91 14.59 | -0.22 -1.48% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|