CPO 20 January 2012 Review From Tokan Futures Corner

BMD Crude Palm Oil (CPO) End Off Highs; Choppy Trade Tipped Rest Of Week

[Dow Jones] BMD Crude Palm Oil (CPO) futures are off highs as investors book profits from recent gains; a Kuala Lumpur-based broker says trading during the holiday-shortened week is likely to be mixed and choppy in the next two trading session.

 

Corn, Wheat Called to Open Higher on Demand Prospects; Soybeans May Drop

 

-- Soybean futures may open 3 cents to 5 cents lower on the CBOT as rain was forecast this weekend in South America, improving prospects for crops hurt by dry weather, Roose said. Soybean-oil futures are expected to open 0.25 cent to 0.3 cent a pound lower, and soybean-meal futures may open 50 cents to $1 lower per 2,000 pounds.

 

Ringgit opens higher against greenback

 

KUALA LUMPUR: The ringgit opened higher against the US dollar Wednesday as risk appetite improved on positive external factors, dealers said.

At 9.11am, the ringgit was quoted at 3.0870/0900 per US dollar as compared with 3.1060/1090 at close last week.

A dealer said the ringgit appreciated against the greenback on improving appetite towards riskier assets as investors drew comfort from signs of progress on resolving the European debt crisis.

"However, investors still remained cautious over possible corrections in the emerging Asian currencies, especially if efforts to seal a deal in the Greek debt fails," he said.

Against other major currencies, the ringgit was weaker against the Singapore dollar at 2.4359/4402 from 2.4330/4359 Friday but strengthened against the yen at 3.9694/9738 from 4.0185/0250 last week.

The ringgit fell against the British pound to 4.8207/8266 from 4.8030/8079 last week and declined against the euro to 4.0217/0266 from 4.0135/0187 Friday. - Bernama

 

Tokan Futures Corner Review:

 

From the article above we can say that 1. dollar is weakening  2. Soybean oil are dropping and 3^rd the cpo still fail to pass above 3190-3200 level. So what I can say is get ready to buy at support line area and just beware on Papa Bear Land OK guys ^_^.  So it up to you to became a bear ( wait at the hill stream and just open your mouth and wait for the salmon or became the eagle to snatch the fish when opportunity arise.

 

 

Read more on my previous article :

http://tokancorner.com/2012/01/bursa-malaysia-fkli-futures-trading/cpo-future...

http://tokancorner.com/2012/01/bursa-malaysia-fkli-futures-trading/fkli-futur...

 

GOOD LUCK J