Wednesday, March 31, 2010

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.

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