05.10.2019 (The Star Online) - KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives are likely to see cautious trading next week, amid the weaker global market, a dealer said.

The CPO production he said was expected to rise in the coming months which would exert pressure on the country’s stock levels and keep the price on a downtrend.

"Investors would remain sidelined in the absence of any good news," he said.

On another note, the traders were waiting for Budget 2020 announcement next Friday.

For the week just ended, the CPO futures were traded mixed, tracking the soybean oil market performance and oil prices amid the intensified trade dispute between the US and China.

On a Friday-to-Friday basis, CPO futures contract for October 2019 rose RM6 to RM2,096 per tonne, November 2019 added RM1 to RM2,113 per tonne, while December 2019 and January 2020 were flat at RM2,149 and RM2,198 per tonne, respectively.

Weekly turnover declined to 194,809 lots from 205,952 lots in the previous week and open interest narrowed to 222,635 contracts from 228,359 contracts previously.

On the physical market, the CPO price for October South increased RM10 to RM2,110 per tonne. - Bernama

Read more at https://www.thestar.com.my/business/2019/10/05/cpo-futures-to-see-cautious-trading-next-week#3j7SXF30dTz45Os1.99