The benchmark December 2014 contracts settled significantly lower by RM36 to RM2109 per ton Friday (Sept 19) on strong output growth in Indonesia. January contracts dropped around 2% to RM2121 per ton, while November contracts down RM37 to RM2107/ton.

The benchmark crude palm oil (CPO) contracts for December 2014 advanced RM16 to RM2160 per ton this morning. That means the commodity has gained 5.1% from its recent bottom. Plantation shares, however, were mixed in the region.

Coal mining contractor Darma Henwa (DEWA) booked net loss of US$2.25 million in the first half of 2014. It is smaller than US$6.8 million of losses in the corresponding period of 2013. But, compared to peers, Darma Henwa was the worst performing in the first half.

The benchmark November 2014 contracts settled higher by RM15 to RM2099 per ton Monday. That means the commodity has gained around 8% from its recent bottom. Further depreciation of rupiah, meanwhile, lifted CPO prices for domestic market in Indonesia.

Relatively weak rupiah and improvement in the futures market lifted CPO prices in domestic market last week. KPB Nusantara, the joint marketing office of state plantations, sold all seven CPO packages auctioned off Friday (8500 tons) at Rp8210-8320 per Kg improved from below Rp8000 in the previous week.

The reference price of Indonesian thermal coal (HBA) for September 2014 is set at US$69.69 per ton, down 0.85% only from the previous month. This is the lowest price since July 2009. Has the commodity been bottoming out?

Coal mining contractor Delta Dunia Makmur (DOID), parent of BUMA, has just reached its new high since early 2013. The stock gained more than 50% since July 2014. Petrosea (PTRO), subsidiary of Indika Energy (INDY), meanwhile, gained only 6.5% year-to-date as its net profit collapsed 75%, while DOID turned to profit.

Plantation shares opened mostly higher in Jakarta after several days of corrections. In Singapore, however, First Resources Ltd lost 2.9%, while Indofood Agri down 1.2%. In Kuala Lumpur, Felda Global, the world’s largest palm oil producer, opened lower by 0.53%.

Indonesia Stock Exchange (IDX) has lots of plantation and palm processing or trading companies, but very few are traded frequently. Wilmar Cahaya (CEKA), controlled by Wilmar International Ltd, however, is on its way to float more shares to public investors. How about others, including Sinarmas’ Smart Tbk?