FCPO prices fell to a fresh 11-month low

CPO futures prices fell to a fresh 11-month low on weaker crude oil prices. Benchmark Oct 08 initially opened RM 8 lower at 2663. Speculative selling interest emerged once prices failed to hold at the intra-day high of 2675. The already weak market momentum again hammered down to a fresh year low at 2628 before recover to close at 2660 in midday break.Heavy selling activities continue to pressure the market momentum once 2600 level was unable to hold and saw Oct 08 dropped to settle at fresh year low at 2561, down RM 110. Total volume stood at 15,424 contracts changed hands.