Based on USDA, Indonesia palm oil stockpiles will rise 66% to 3 million MT by the end of 2013/14... Export outlook in 2012/13 was 20.3 million and 21.3 million in 2013/2014 due to expectation stronger demand...
According to Greenpeace, Indonesia already has 6 million hectares of oil palm plantations but has plans for another 4 million by 2015...
Dorab Mistry told Bloomberg that cpo futures could drop to 2000 by January...
Source: foodnavigator.com
Technical view: after hitting multiple losses in last few trades, indicator A had since turned selling 2303 at 4pm on 25th September. It will do stop and reverse buy only if any trading session, in the 60-minute short term FCPO technical indicator A, show a last or closing price above 2297 today; or else, keep holding on the short 2303. While the coming Monday, its SAR will be in a range of 2292 to 2296.
As the SAR trade signals may have changed due to sudden spike of prices, the SAR trade signals here is given only for your reference, no further updates will be given until next posting.