KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is likely to trade in a yo-yo mode next week amid profit-taking, after trading in an upbeat momentum over the past week, said a dealer.
Interband Group of Companies senior trader Jim Teh said trading would likely range between RM2,600 and RM2,700 a tonne on speculative play ahead of the Malaysian Palm Oil Board's (MPOB) key crop report for July on Monday.
The overall market expectation was bullish with an estimation of lower production and lower stock in the month, he said.
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