* Palm hits intra-day high of 2,285 ringgit per tonne
* Ringgit at fresh 10-year low but traders seek new leads
* Euro zone woes hamper further gains
(Updates throughout, adds closing prices)
Malaysian palm oil hit a one-week peak on Friday, tracking rival vegetable oils higherwith support from a weak ringgit, but eased in light afternoon
trade to levels nearer Thursday's close to end the week down
slightly.
The September palm oil contract on the Bursa
Malaysia Derivatives exchange ended up 0.13 percent at 2,269
ringgit ($600.74) a tonne at close after trading in a
2,264-2,285 ringgit band.
Earlier, prices hit their highest since June 25 at 2,285
ringgit. Prices closed down 0.35 percent this week.
"The market is ticking up but nothing much," said a palm
trader with a foreign commodities brokerage in Malaysia. "The
ringgit is weakening a bit, and bean oil is higher."
"It is still range trading between 2,250 and 2,300," he
added. "One day up, one day down as people look for new leads."
Export and stocks data set to be released from next week
could offer further direction, he added.
The Malaysian ringgit traded at 10-year lows,
making benchmark palm cheaper for overseas buyers.
Total traded volume for palm was 27,981 lots of 25 tonnes
each, below the usual 35,000 lots.
Signals are mixed for palm oil, as it has approached a
resistance at 2,293 ringgit per tonne, said Reuters market
analyst Wang Tao.
In other vegetable oils, the U.S. July soyoil contract
rose 1.27 percent, while the most active January soybean
oil contract on the Dalian Commodity Exchange was 0.6
percent higher.
Worries about Greece's debt default and its potential impact
on European palm buying remain among palm traders.
While Europe was fixated on Greece, a rout in Chinese stock
markets continued. Chinese markets, which had risen as much as
110 percent from November to a peak in June, have collapsed
since June 12, losing more than 20 percent.
"Should Greece exit from the euro zone, it would be negative
for CPO prices as the economic uncertainties could weaken palm
oil demand from the EU which accounts for 12 percent of global
palm oil consumption," Ivy Ng, regional head of plantations
research at CIMB Investment Bank said in a research note.
Oil prices fell on Friday as a rising U.S. rig count stoked
fears of global oversupply and after Chinese regulators opened
an investigation into suspected stock market manipulation.
Palm, soy and crude oil prices at 1222 GMT
Contract Month Last Change Low High Volume
MY PALM OIL JUL5 0 +4.00 0 0 50
MY PALM OIL AUG5 2268 +4.00 2261 2281 1464
MY PALM OIL SEP5 2269 +3.00 2264 2285 15479
CBOT SOY OIL DEC5 33.92 +0.80 33.34 34.03 40502
INDIA PALM OIL JUL5 447.50 +0.80 445.50 447.50 538
INDIA SOYOIL AUG5 584.25 -0.70 583.10 586.70 39645
NYMEX CRUDE AUG5 56.49 -0.44 56.40 56.77 20014
Palm oil prices in Malaysian ringgit per tonne
CBOT soy oil in U.S. cents per pound
Dalian soy oil and RBD palm olein in Chinese yuan per tonne
India soy oil in Indian rupee per 10 kg
Crude in U.S. dollars per barrel
($1 = 3.7770 ringgit)
($1 = 6.2047 Chinese yuan)
($1 = 63.4278 Indian rupees)
Регион | Закуп. | Изм. | Прод. | Изм. |
---|---|---|---|---|
ЦФО |
29150.00 | + 700 | 29160.00 | + 660 |
ПФО |
27950.00 | + 300 | 28050.00 | + 50 |
СКФО |
28700.00 | + 500 | 28950.00 | - 50 |
ЮФО |
28150.00 | - 200 | 28950.00 | - 50 |
СФО |
28400.00 | - 100 | 28300.00 | - 200 |
Регион | Закуп. | Изм. | Прод. | Изм. |
---|---|---|---|---|
ЦФО |
71000.00 | + 850 | 73250.00 | + 1380 |
ЮФО |
69800.00 | + 200 | 74000.00 | + 3500 |
ПФО |
71000.00 | + 1450 | 73000.00 | + 2950 |
СФО |
72000.00 | + 1800 | 75000.00 | + 4500 |
Обсуждение