Thursday, March 25, 2010

DJ MARKET TALK: BMD CPO Up;Exports,Crude,Soyoil Support;Trade Thin

[Dow Jones] BMD CPO futures up; export data, higher crude oil, soyoil support, say traders. Benchmark June CPO contract up MYR12 at MYR2,572/ton. Trade sluggish at around 7,000 lots, half usual trading activity, say traders. "The export data fell within market expectations and there really isn't anything excessively bearish or bullish in the market to get prices out of the MYR2,550-MYR2,600 range," says a Kuala Lumpur-based trader. A Singapore-based trader says MYR2,550-MYR2,600 range will likely hold until end-March.


1725 Malaysia Time

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