Malaysia BMD crude palm oil futures closed higher in midday
-
Last Update: 2008-11-03
-
Source: Internet
-
Author: User
Search more information of high quality chemicals, good prices and reliable suppliers, visit
www.echemi.com
Introduction: Malaysia BMD crude palm oil futures closed sharply higher in the afternoon, encouraged by speculative buying The benchmark may crude palm oil contract rose 25 ringgit to 1413 ringgit per ton, with 3558 transactions Traders said the market's rise was mainly due to speculative buying and the lack of new positive supply and demand news Gains in CBOT soybean oil futures and Asian electronic trading also supported gains in the palm oil market Traders said people were excited by rumours that a large market player would buy in the spot market The breakthrough of rm1400 psychological level can encourage technical buying in the afternoon The next resistance level of rm1420 is expected to be tested in the near future
This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only.
This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of
the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed
description of the concern or complaint, to
service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content
will be removed immediately.