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Commodity Alert: Malaysia CPO falls tracking weakness in CBOT soyoil

Monday, Aug 24, 2020                                          Tel +91 (22) 6619-0000


Commodity Alert: Malaysia CPO falls tracking weakness in CBOT soyoil

 

NEW DELHI–0830 IST–Futures contracts of crude palm oil on BMD fell nearly 1% today tracking key contracts of soyoil on CBOT, analysts said.

 

Prices of crude palm oil and soyoil typically move in tandem as they are used as substitutes in edible oil blends and making biofuel.

 

The most active November contract on the Malaysian bourse was down around 1% at 2,662 ringgits (around 47,728 rupees) a tn.


Tepid exports of crude palm oil from Malaysia, the second largest producer and exporter, during Aug 1-20 also weighed on the sentiment. Malaysia's palm oil exports were pegged 21% down on month to 925,083 tn during Aug 1-20, cargo surveyor AmSpec Agri Malaysia said. (Kaushal Verma)


 

Commodity Alert: COMEX gold down on strong US economic data 

 
MUMBAI–0815 IST–Gold prices on COMEX traded lower today in Asian trade today tracking a rise in US equity markets and also due to strong economic data emerging from the country, said analysts.

 

The December gold contract on the COMEX was at $1,942.9 per ounce, down 0.2% from the previous close. 

 

The US' flash manufacturing purchasing managers index rose to 53.6 in August from 50.9 in July. The report said sentiment in the US manufacturing sector was at its highest level in 19 months.  (Kavita Desai) 

End

 

US$1 = 74.84 rupees

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

BMD: Bursa Malaysia Derivatives
CBOT: Chicago Board of Trade
CFTC: Commodity Futures Trading Commission
CME: Chicago Mercantile Exchange
COMEX: Commodity division of New York Mercantile Exchange
DME: Dubai Mercantile Exchange
EIA: Energy Information Administration
ICE: Intercontinental Exchange
ICEX: Indian Commodity Exchange
IEA: International Energy Agency
LME: London Metal Exchange
MCX: Multi Commodity Exchange of India
NBOT: National Board of Trade
NCDEX: National Commodity and Derivatives Exchange
NYMEX: New York Mercantile Exchange
OPEC: Organization of the Petroleum Exporting Countries
SEBI: Securities and Exchange Board of India
TOCOM: Tokyo Commodity Exchange
USDA: US Department of Agriculture

 

Edited by Nidhi Chugh

 

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This copy was first published on the Cogencis WorkStation

© Cogencis Information Services Ltd. 2020. All rights reserved.

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