The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange fell 0.6 percent at 2,588 ringgit ($637.44) a tonne at the end of trading, a fourth day of losses out of five. Earlier in the session, the contract hit its strongest level since Nov. 24 at 2,625 ringgit. Traded volumes stood at 34,067 lots of 25 tonnes each on Monday evening.
KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to trade between RM1,950 and RM2,050 a tonne next week.
Interband Group of Companies senior trader Jim Teh said the market is set to be in a yo-yo mode next week as rising tensions in the Middle East after two oil tankers were attacked in the Gulf of Oman and U.S.-China trade disputes have kept sentiment cautious.
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