Latest news with #Engku
Barnama
4 hours ago
- Business
- Barnama
CPO Futures Close Higher, Tracking Stronger Soybean Oil
CPO Futures Close Higher, Tracking Stronger Soybean Oil By Engku Shariful Azni Engku Ab Latif KUALA LUMPUR, July 22 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed higher on Tuesday, tracking rising soybean oil futures on the Chicago Board of Trade (CBOT) and the crude degummed soybean oil (CDSBO) market in South America overnight. Sunvin Group head of commodity research, Anilkumar Bagani, said the rapeseed oil futures traded on the Zhengzhou Commodity Exchange (ZCE) and a stronger ringgit against the US dollar capped the gains in palm oil. 'According to The Malaysian Palm Oil Council (MPOC), palm oil prices are expected to trade between RM4,100 to RM4,300 per tonne over the next month. The projection was driven by a strong soybean oil market and festive demand from India,' he told Bernama. Palm oil trader David Ng said the commodity's prices were boosted by stronger soybean oil and Dalian palm olein prices. 'We see support at RM4,200 and resistance at RM4,400,' he added. At the close, the spot-month August contract gained RM22 to RM4,196 per tonne, the September 2025 contract added RM30 to RM4,246, and the October 2025 contract rose RM39 to RM4,264. The November 2025 contract advanced RM42 to RM4,271, December 2025 climbed RM43 to RM4,270, and January 2026 gained RM38 to RM4,262 per tonne. Trading volume eased to 75,575 lots from 75,830 on Monday, while open interest declined to 231,767 contracts from 235,195 previously. The physical CPO price for July South inched up by RM20 to RM4,220 per tonne. -- BERNAMA
Barnama
2 days ago
- Business
- Barnama
Rubber Market Closes Lower On Weaker Oil, Firm Ringgit
WORLD By Engku Shariful Azni Engku Ab Latif KUALA LUMPUR, July 21 (Bernama) -- The Malaysian rubber market ended slightly lower on Monday, weighed down by weaker crude oil prices and a firmer ringgit against the US dollar, a dealer said. The dealer added that the decline also reflected lingering uncertainties over potential US trade tariffs and the ongoing crisis in the Middle East. 'However, losses were limited by optimism surrounding US-China trade talks and signs of increased economic stimulus from China,' she told Bernama. At the time of writing, Brent crude oil fell 0.38 per cent to US$68.96 per barrel. At 3 pm, the Malaysian Rubber Board (MRB) reported the price of Standard Malaysian Rubber 20 (SMR 20) eased by half-a-sen to 735.50 sen per kilogramme, while latex in bulk dropped 2.0 sen to 569.50 sen per kg. -- BERNAMA
