CPO futures to trade range-bound next week ahead of MPOB data

KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is likely to trade in a range-bound mode at between RM2,300 and RM2,350 per tonne next week ahead of the release of the palm oil industry performance for June 2020, said a dealer.

Interband Group of Companies senior palm oil trader Jim Teh said the data, which are usually released on the 10th of each month by Malaysian Palm Oil Board (MPOB), would provide traders and investors a better picture of the country's stock position and determine their next move in the market.