LATTEST CS AGRI NEWS UPDATE MCX CRUDE PALM OIL-22 DEC 2014

Crude palm oil up by 0.4% in futures trade

• Crude palm oil prices were higher by 0.36% to Rs 419.10 per 10 kg in futures trading today as speculators indulged in creating positions, supported by pick up in demand in the spot market.
• At the Multi Commodity Exchange, crude palm oil for delivery in December edged up by Rs 1.50, or 0.36% to Rs 419.10 per 10 kg in business turnover of 53 lots.
• Similarly, the oil for delivery in January next year traded higher by Rs 1.40, or 0.33% to Rs 429 per 10 kg in 73 lots.

MCX CPO likely to trade sideways

• Crude Palm Oil(CPO) futures traded up on Monday. CPO prices may trade on a mixed note. Prices may follow the crude oil price trend, however appreciation in USD INR may pressurize the prices.
• CPO January contract gained 1.66% to 432 level on Monday at India's Multi Commodity Exchange(MCX).
• CPO January contract is likely to trade sideways for both short term and intra day. Short term support is seen at 418 and resistance at 438. Intra day support is seen at 425 and resistance at 433.