FCPO related news

Malaysian crude palm oil futures rose on Monday, following strong exports last month and after U.S. Federal Reserve chief Ben Bernanke kept the door open for further stimulus that could prop up global growth and support commodity demand. (Reuters)

The benchmark November contract at Bursa Malaysia Derivatives closed sharply higher at MYR3,073 on Monday due to strong export demand and tighter global vegoil supply.

According to cargo surveyor Intertek Agri Services Friday, export sales in August rose 18% from previous month to 1.45 million tons, due to orders from China and Indian subcontinent.

Today’s Support and Resistance for benchmark November is located around 3,030 and 3,080 respectively.