FCPO
FCPO 3rd Month Futures (PM) - 10 May 2024
Fri, 10-May-2024 01:49 pm
by Futures Dealing • Apex Futures

FCPO
Pivot
3802
Resistance
3819 / 3836 / 3860 / 3883
Support
3779 / 3755 / 3738 / 3721
Possible Range
3700 to 3900
Strategy
Long positions may be opened above 3800 with targets at 3819/3836 stop-loss at 3770
Short positions may be opened below 3800 with targets at 3755/3721 stop-loss at 3830

FCPO Jul month fell 41 points or 1.07% to 3790 closed lower at midday. Malaysian palm oil futures fell on Friday, tracking weakness in Dalian rivals and as caution set in ahead of monthly Malaysian Palm Oil Board (MPOB) data due later in the day.

Malaysia's palm oil stocks at the end of April rose 1.85% from the previous month to 1.74 million metric tons, the first month-on-month rise in six months, data from the industry regulator showed on Friday.

Crude palm oil production gained 7.86% from March to 1.50 million tons, while palm oil exports fell 6.97% to 1.23 million tons, the Malaysian Palm Oil Board (MPOB) said.

A Reuters survey forecast April inventories at 1.68 million tons, a 2% decline from the previous month, with output at 1.46 million tons and exports at 1.22 million tons.

(News Source: Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.186146 4.219371
EUR 4.664934 4.669654
CNY 0.594782 0.595398
HKD 0.537928 0.541710
SGD 3.240672 3.263549