CPO futures to trade range-bound next week

KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to trade in range-bound mode next week as the market is lacking movement catalysts, a dealer said.
Interband Group of Companies senior palm oil trader Jim Teh said the market projection was made based on the quiet market and no major festival happening in the coming weeks.
He told Bernama that the futures contract is expected to trade between RM3,200 and RM3,300 per tonne.
Palm oil trader David Ng also expects the CPO futures to trade range-bound but with a negative bias, given the prospect of higher production which may increase the overall stock level in the country.

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