DJ MARKET TALK: BMD CPO Futures Higher On Short Covering, Crude
[Dow Jones] BMD CPO futures tad higher, back in positive territory on short covering, tracking gains in Chinese commodities, higher crude oil prices, traders say. Prices likely to trade in MYR2,540-MYR2,560 range rest of day, traders say. Malaysia's March palm oil exports within expectations, mostly factored into prices yesterday, traders say. Cargo surveyor SGS put March palm exports up 7.7% on month at 1.35 million tons, same level Intertek estimated earlier today. Benchmark BMD June CPO futures trading MYR6 higher at MYR2,551/ton. Nymex May crude oil trading 19 cents higher at $82.56/bbl on Globex.