KUALA LUMPUR, Oct 6 -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives extended its rally for the second consecutive day today, tracking the positive performance of competing vegetable oils.
Palm oil trader David Ng said the uptrend in the soyabean oil futures on the Chicago Board of Trade (CBOT) had lifted the local market.

“We locate the next support level at RM2,700 per tonne and resistance at RM2,850 per tonne,” he told Bernama.
At the close, the CPO futures contract for October 2020 and November 2020 added RM100 each to RM2,947 per tonne and RM2,867 per tonne, respectively.
Meanwhile, December 2020 and January 2021 gained RM97 to close at RM2,818 per tonne and RM2,787 per tonne, respectively.
Total volume strengthened to 39,262 lots from 37,449 lots on Monday, while open interest declined to 230,913 contracts from 232,665 contracts.
Meanwhile, the physical CPO price for palm oil was RM60 higher at RM2,950 per tonne for October South.
-- BERNAMA

https://www.bernama.com/en/market/news.php?id=1887084
Sumber : Bernama