Monday, March 29, 2010

DJ MARKET TALK: BMD CPO Futures May Open Little Changed

[Dow Jones] BMD CPO futures may open little changed to MYR5 lower, traders say. CPO futures will likely extend last Friday's 1.6% slide on rising palm oil inventory levels as output expected to improve in March, says Kuala Lumpur-based broker. Most traders peg today's trading range at MYR2,530-MYR2,570/ton, with support at psychological MYR2,500/ton level. Benchmark BMD June CPO futures ended MYR41 lower at MYR2,534/ton Friday.

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