Last Updated : March 19, 2010 14:30
Crude Palm Oil bearish on negative fundamentals
MCX April CPO closed lower Rs 5.50 at Rs 366.10/10 Kg on Thursday, from its high of the day (370.30) and touched a low of 365.90 levels.
The benchmark June contract on BMD CPO ended lower at MYR 2535/tonnes on Thursday, down MYR 60/tonnes as compared to previous close, from its high of the day 2587 levels and touched a low of MYR 2528/tonnes.
Spread between NCDEX & MCX April Ref Soy Oil contracts are Rs -2.30 against previous day of Rs -2.35 per 10 Kg.
The USDA’s weekly export sales for soy oil were higher than expectation. Net oil sales were 18,400 tonnes. Cumulative oil sales stand at 75.5% of the USDA forecast for 2009/2010 versus a 5 year average of 49.5%. Sales need to average 12,000 tonnes each week to reach the USDA forecast.
Courtesy: Angel Commodities
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MCX GOLDPETAL NEW DELHI 29 February 2012
contract was trading at
Rs 2815 , up Rs. 81 . What's your view on it?
