CPO commodity Fundamental Analysis

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The price of CPO on Tuesday afternoon (07/03) is sluggish. CPO price decline triggered tonight by weakening crude oil prices. The decline in crude oil prices to trigger negative sentiment that makes the price of CPO in the downward trend. The weakening in crude oil prices make alternative fuels such as those made of CPO declined his request.

 

CPO price most active contract on the commodity exchanges Malaysia today seems weakened. The contract price in May 2017 which is the most active contract fell by -26 ringgit or -0.90 percent and traded at 2,867 ringgit per tonne.

 

Analysts estimated CPO futures may drop by weakening crude oil. Price movements can also be affected by Ringgit, which if strengthened could depress the price of cpo. CPO futures contract prices has the potential to test the support level at 2,820 ringgit and 2,770 ringgit.

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CPO price on Friday afternoon (26/05) traded weak. The decline in CPO prices tonight triggered by the strengthening of the Ringgit exchange rate against US dollar and the weakening of crude oil prices.  Strengthening Ringgit makes the price becomes relatively more expensive for overseas buyers so that demand decreases.

 

The decline of crude oil prices triggered by negative sentiment that caused CPO prices to decline. The weakening of crude oil prices makes alternative fuels such as those made from CPO declining demand.

 

The price of the most active contract CPO on the Malaysian commodity exchanges today seems to be weakening. The contract price for August 2017, which is the most active contract, weakened by 35 ringgit or 1.3 percent and traded at 2,572 ringgit per ton.

 

Analysts expect that the movement of CPO futures prices in subsequent trades potentially will decline with the potential strengthening of ringgit and weakening of crude oil. The price of CPO futures could potentially test the Support level at 2,520 ringgit and 2,470 ringgit.

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CPO price on Malaysian commodity exchanges was observed higher on last afternoon trading. This afternoon's CPO price rise ignored bearish sentiment for the strengthening of the ringgit and by the weakening of crude oil.

 

The rise in CPO prices triggered investor to do bargain hunting after CPO prices slumped around 2 percent this week. CPO price appears to have risen. The contract price of August 2017 which is the most active contract rose by 15 dollars and traded at 2,459 ringgit per ton.

 

Analysts expect that the movement of CPO futures prices in subsequent trades will potentially strengthen if the bargain hunting action continues, overshadowed bearish sentiment because of the strengthening Ringgit and weakening of crude oil.

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CPO price on Malaysian commodity exchanges was observed higher on last afternoon trading. This afternoon's CPO price rise ignored bearish sentiment for the strengthening of the ringgit and by the weakening of crude oil.

 

The rise in CPO prices triggered investor to do bargain hunting after CPO prices slumped around 2 percent this week. CPO price appears to have risen. The contract price of August 2017 which is the most active contract rose by 15 dollars and traded at 2,459 ringgit per ton.

 

Analysts expect that the movement of CPO futures prices in subsequent trades will potentially strengthen if the bargain hunting action continues, overshadowed bearish sentiment because of the strengthening Ringgit and weakening of crude oil.

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CPO price iat the end of trading Friday (09/06) ended up. This afternoon's CPO price rise ignored bearish sentiment for the strengthening of the ringgit and the weakening of crude oil. The rise in CPO prices triggered bargain hunting investors after CPO prices slumped around 2 percent this week.

 

The price of the most active contract CPO  is closed on the rise. The contract price of August 2017 which is the most active contract rose by 9 ringgit or 0.4 percent and traded at 2,453 ringgit per ton.

 

Analysts expect that the movement of CPO futures prices in subsequent trades potentially weakened overshadowed the potential for crude oil declines, with still stronger bearish sentiment in US and global oil production growth. However, the weakening could be halted if the US dollar continues to strengthen, which gives the Ringgit weakening that could lift the price.

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CPO price on Thursday afternoon trading (22/06) moved weak. CPO prices fell in third consecutive days by decline to a one-week low, hampered by bearish sentiment on slowing demand and a drop in soybean oil on the Dalian stock exchange.

 

Traders said this month's production may rise and exports are not that good, and predict export numbers from cargo surveyors will decline further after Eid celebrations end next week. Generally a decline in palm oil exports after the month of Ramadan, because purchasers of inventory a month before the celebration begins.

 

The price of the most active contract CPO on the Malaysian commodity exchanges today seems to be weakening. The contract price in September 2017, which is the most active contract, weakened by 12 ringgit and traded at 2,430 ringgit per ton.

 

Analysts expect that futures price movements of CPO for future trade session are potentially weak with weak demand and falling rival oil prices. The price of CPO could potentially test the Support level at 2,380 ringgit and 2,330 ringgit.

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The price of CPO in Malaysia's commodity exchanges on Friday afternoon trading (23/06) was weak. Decrease in CPO prices pressured by forecast of production increase.

 

Production in Malaysia, the world's second largest producer after Indonesia, rose about 6.9% to 1.65 million tonnes in May from the previous month, according to the latest data from the Malaysian Palm Oil Board.

 

The price of the most active contract CPO on the Malaysian commodity exchanges today seems to be weakening. The contract price in September 2017, which is the most active contract, weakened by 0.33 percent and traded at 2,439 ringgit per ton.

 

Analysts expected that the estimation of the CPO futures price movement on the next session would be potentially weak with increasing production and falling prices of rival oil.

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The price of CPO in Malaysia's commodity exchanges was observed higher on Wednesday afternoon (28/06). The rise of CPO price this afternoon is supported by the weakening of Ringgit. The weakening of the ringgit makes commodity prices traded in the currency become relatively cheaper for overseas buyers so demand increases.

 

The price of the most active CPO contract on Malaysian commodity exchanges today appears to have risen. The contract price in September 2017, which is the most active contract, rose by about 21 ringgit or 0.9 percent and traded at 2,463 ringgit per ton.

 

It seems that many analysts estimated that the movement of CPO futures prices in subsequent trades potentially will strengthen by the potential weakening Ringgit. The price of CPO futures seems to test the resistance level at 2,510 ringgit and 2,560 ringgit.

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CPO price on commodity exchanges were observed higher based on Thursday afternoon (06/07). The rise of CPO price this afternoon is supported by Asian crude oil price hike. On this fateful session, crude oil prices rose after falling about 4 percents overnight.

 

The price of the most active contract CPO on the commodity exchanges today appears to have risen. The contract price for September 2017 Delivery, which is the most active contract, rose around 0.4 percent and traded at 2,549 ringgit per ton.

 

Analysts expect that the movement of CPO futures prices in subsequent trades will potentially strengthen if the crude oil rises continue. The price of CPO futures contract in September 2017 is potentially tested the resistance level at 2,600 ringgit and then at around 2,650 ringgit. 

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The price of crude palm oil (CPO) continued to weaken in the third day of trading in a row on Wednesday. The CPO futures price contract for October 2017, the most active contract on Malaysia bourse, shed around 1.22% or 32 points to 2,601 ringgit per tonne.

 

Earlier this morning, CPO prices opened with a weakening 0.87% towards 2,610, after trading on Tuesday the price ended down 1.20% towards level 2,633. Palm oil weakened for a third day as weighed by forecasts of shrinking demand and a drop in soybean oil prices.

 

According to CIMB's research, higher import duties in India have a negative impact on CPO prices. India raised its crude palm oil import duty to 15% from 7.5%. An increase in import duties will have an impact on demand for crude palm oil.

 

Palm oil prices were also dragged down by weakness in US soybean oil and vegetable oil markets on the Dalian stock exchange, while export demand slowed in August.

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The price of crude palm oil (CPO) is monitored again in the red zone, although at the same time the performance of the ringgit currency remains depreciated. CPO futures contract for November 2017, the most active contract on Malaysia bourse, traded down 0.11% today or 3 points to 2,710 ringgit per ton.

 

In fact, the price of CPO had posted a rebound when it opened with a gain of 0.41% towards the new level at around 2,724. The rebound in the price of palm oil was driven earlier by the weakening of the ringgit against the US dollar and lower production expectations.

 

Nevertheless, the strengthening of prices may be limited by weaker exports. The export data for palm oil for August is scheduled to be released by Intertek today. Earlier, Intertek data showed Malaysian palm oil exports from August 1-25 fell 8.1% (m-o-m) to 934,544 tons.

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The movement of crude palm oil was observed to weaken in the second day of consecutive trading on Thursday, following the predicted increase in palm oil inventories of Malaysia. CPO futures contract for November 2017, the most active contract on the Exchange Malaysia, in today's trading fell 0.73% or 20 points to 2,724 ringgit per ton.

 

The weakening of CPO price is influenced by the estimated increase of inventory amount. Malaysia's palm oil inventories are expected to hit an 18-month high in August. The market is looking at higher inventories for August.

 

At the same time, he added, the palm oil exchange also pressured further strengthening of the ringgit exchange rate. The exchange rate of ringgit was observed to rise by 0.54% to 4.2160 per US dollar today, after in the previous trading ended by 0.50% appreciation at 4.2387.

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The weaker crude palm oil (CPO) price continued in the third consecutive day of trade, CPO futures contract for December 2017, the most active contract on Bursa Malaysia, fell 0.33% or 9 points to 2,696 ringgit per tonne at 11:29 hrs.

 

Previously, CPO prices opened down 0.26% or 7 points at 2,698 level, after trading on Thursday (28/9) ended down 1.53% at 2,705 positions. According to analysts, soybean oil prices fell rapidly, as well as providing bearish sentiment towards crude palm oil futures contracts.

 

In addition, CPO price moves consolidated in the range of 2,680-2,770 ringgit in the last three days and awaits further decline to 2,610 ringgit. Based on the 0USDA quarterly report and Malaysian authority data, the palm oil fundamentally does not have a new clue while the market awaits full-month export forecast. Also weighing on palm oil, the ringgit exchange rate today was up 0.11% to 4.2270 per US dollar.