Monday, March 29, 2010

DJ MARKET TALK: BMD CPO Futures Lower; Support At MYR2,510/Ton

[Dow Jones] BMD CPO futures little changed in choppy trade, prices swinging between positive, negative territory on lack of fresh leads, traders say. "Some investors continue to liquidate positions to take profit and some set up long positions," says Malaysia-based broker. Market likely to remain choppy, may ease further to MYR2,510 level, says executive at global trading company. Supply fundamentals weighing on prices but rise in crude oil, soyoil supportive. Benchmark BMD June CPO futures trading MYR15 lower at  MYR2,519/ton.

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