TA FUTURES SDN BHD (340271-W) A member of the TA group BMD FCPO FUTURES DAILY COMMENTARY – 29th December, 2014 (Monday) 32nd Floor, Menara TA One, 22 Jalan P . Ramlee, 50250 Kuala Lumpur, Malaysia. For comments and enquiries, please contact us at Tel: +603-2072-4832, Toll Free : 1-800-88-1506 Fax: +603-2072-5001,Website : www.tafutures.com.my Settlement Month Open High Open Interest Low Volume Price (MYR) Changes Lots Changes Jan-15 2205 2250 2202 2250 33 288 4017 -282 Feb-15 2201 2253 2200 2252 34 1685 18596 -230 Mar-15 2201 2252 2200 2250 33 18845 43885 568 Apr-15 2203 2250 2200 2249 32 4448 12713 108 May-15 2204 2246 2199 2246 31 2761 22908 -762 Jun-15 2197 2239 2191 2239 30 Total CBOT Soyoil Mar' 15 (USD per pound) 32.16 32.84 32.15 32.59 0.53 NYMEX Crude Oil Feb'15 (USD per barrel) 55.86 56.59 54.51 54.73 -1.11 DCE Palm Oil January' 15 (RMB per tonne) 4,938.00 4,956.00 4,926.00 4,932.00 0.00 3.50 3.50 3.48 3.49 -0.01 1028'4 1048'4 1028'4 Malaysian Ringgit Spot (MYR/USD) CBOT Soybean Jan’15 (US Cents per lb) EU PALMOIL RBD dlrs tonne for Feb'15/Mar'15 (USD per tonne fob) 1047'4 18'6 652.50 -2.50 1206 7253 290 32,884 175,853 -297 Price differential between CBOT Soybean Oil and BMD Futures CPO $73.93 Source : Bloomberg Dec'14 Jan'15 Feb'15 Mar'15 2,217.50 2225.00 2,218.50 2218.50 CPO Physical Price as per MPOB (Local Delivery), - 24 December 2014 Source : MPOB Estimated Export Volume ITS (Tonnes) SGS (Tonnes) PERIODS Oct '14 Nov '14 Dec '14 Changes Oct '14 Nov '14 Dec '14 Changes 1 to 10 395,532 400,614 407,425 1.70% 395,940 395,249 395,929 0.20% 1 to 15 626,482 598,269 615,805 2.93% 621,145 605,624 618,314 2.10% 1 to 20 894,697 837,659 911,595 8.80% 884,628 843,707 906,594 7.50% 1 to 25 1,135,252 1,102,724 1,077,140 -2.30% 1,136,943 1,098,870 1,083,151 -1.40% Full month 1,468,105 1,324,124 1,463,982 1,310,509 Source : Reuters MPOB (tonne) Jun'14 July'14 August'14 Sept '14 Oct '14 Nov '14 Changes Production 1,569,788 1,665,661 2,031,754 1,896,899 1,892,996 1,750,567 -7.52% Export 1,481,262 1,443,560 1,437,452 1,628,103 1,611,459 1,512,951 -6.11% End stock 1,656,736 1,684,732 2,053,175 2,090,001 2,166,525 2,278,369 5.16% Source : MPOB Fundamental View:     Severe monsoon flooding in Malaysia that has forced more than a hundred thousand people to evacuate, is likely to cause a bigger-than-expected disruption to crude palm oil production in the world's No.2 producer, planters and traders said. Output across Pahang, Johor and Malacca are estimated drop 36 percent between Dec 1 and 20 from a month earlier due to the heavy rains take its toll on palm's seasonally weaker cycle. Malaysian palm oil futures hit their highest in over a month on Friday, notching their biggest weekly gain in eight weeks as fears of floods disrupting supplies in the world's second-largest producer outweighed earlier losses. Chicago Board of Trade soybean futures closed higher on Friday on light technical buying and tight nearby U.S. soymeal supplies, traders said. Source: Reuters For Internal Circulation Only Recirculation of this report or any part thereof to any third party/ies without the written consent of TA Futures is expressly prohibited. TA Futures does not warrant the accuracy or the completeness of the information contained herein. Information is believed to be reliable and opinions stated here are subject to change. TA Futures shall not be liable for any loss suffered by reliance placed on this commentary. TA FUTURES SDN BHD (340271-W) A member of the TA group BMD FCPO FUTURES DAILY COMMENTARY – 29th December, 2014 (Monday) 32nd Floor, Menara TA One, 22 Jalan P . Ramlee, 50250 Kuala Lumpur, Malaysia. For comments and enquiries, please contact us at Tel: +603-2072-4832, Toll Free : 1-800-88-1506 Fax: +603-2072-5001,Website : www.tafutures.com.my ROLLING THIRD-MONTH CPO FUTURES CONTRACT - DAILY CANDLESTICK CHART KO3 (2,201.00, 2,252.00, 2,200.00, 2,250.00, +41.0000), Parabolic SAR (2,116.02) 2500 2500 2450 2450 2400 2400 2350 2350 2300 2300 2250 2250 2200 2200 2150 2150 2100 2100 2050 2050 2000 2000 1950 1950 1900 1900 1850 1850 Stochastic Oscillator (96.4286) 50 50 0 0 Relative Strength Index (60.5819) 70 70 60 60 50 50 40 40 30 30 20 20 MACD (-1.86410) 8 0 0 -50 -50 15 22 29 7 October 13 20 27 3 10 November 17 24 1 8 December 15 22 29 5 2015 TECHNICAL VIEW Third month benchmark March CPO Futures Contract opened at RM 2,201, it traded to a high at RM 2,252 and traded to low at RM 2,200. CPO Futures closed at RM 2,250, up 33 points with total volume traded of 32,884 lots. An engulfing white candlestick had traded beyond the Bollinger band and this may continue until it tested the 200-SMA line. RSi and stochastic is pointing upwards and with possible strong upwards trading in the coming days. Immediate resistance is at RM2, 183, RM 2,207 and RM 2,233. Immediate support is at RM 2,130, and RM 2,080. TRADING VIEW SHORT-TERM MEDIUM-TERM : : Target upside towards RM 2,280 with stop-loss below RM 2,200. Target upside towards RM 2,320, with stop-loss below RM 2,175. For Internal Circulation Only Recirculation of this report or any part thereof to any third party/ies without the written consent of TA Futures is expressly prohibited. TA Futures does not warrant the accuracy or the completeness of the information contained herein. Information is believed to be reliable and opinions stated here are subject to change. TA Futures shall not be liable for any loss suffered by reliance placed on this commentary.