Thursday, March 25, 2010

DJ MARKET TALK: BMD CPO May Open MYR10 Down On Overnight Soyoil

[Dow Jones] BMD CPO futures expected to open MYR10 lower on soyoil losses
overnight; March 1-25 export estimates expected steady on month. May soyoil
ended 46 points lower at 39.08 cents/pound; trading 33 points higher on Globex.
March 1-25 export data due from cargo surveyors today; market expecting exports
at 1.1 million tons, similar to same-period exports last month. "March exports
are usually higher compared to February, as February is a shorter month. So
data that show March exports as flat or lower than February's would be seen as
bearish," says Kuala Lumpur-based trader. Benchmark June CPO contract ended
MYR31 lower at MYR2,560/ton yesterday. ( 
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