CPO to trade between RM2,200 and RM2,300
The crude palm oil (CPO) futures contract is expected to trade between RM2,200 and RM2,300 per tonne next week.
Philip Futures Sdn Bhd product specialist David Ng said investors are shifting focus to US lawmakers, struggling to reach a deal to avert a debt default.
"The outcome of talks in Washington is likely to influence overall market sentiment with investors remaining cautious in the absence of any good news," he told Bernama.
Another dealer said the local market should anticipate some demand from India, ahead of the Deepavali festival.
On a Friday-to-Friday basis, spot month October 2013 increased RM41 to RM2,380, November 2013 rose RM64 to RM2,379, December 2013 soared RM75 to RM2,380 and January 2014 edged up RM75 to RM2,384 a tonne.
Weekly turnover advanced to 32,330 lots from 21,303 lots previously, while open interest increased to 184,286 contracts from 176,538 contracts previously.
On the physical market, October South was traded RM50 higher at RM2,390 per tonne.-- Bernama