Tuesday, June 22, 2010

DJ MARKET TALK: BMD CPO Futures Down Midday; May Fall Further

[Dow Jones] BMD CPO futures down at midday, vulnerable to further losses in afternoon session due to rising output in Malaysia, Indonesia, traders say. "Higher output in both countries indicate stocks are probably around 2 million tons in Indonesia and 1.64 million tons in Malaysia," says Singapore-based trading executive; notes export demand growth hasn't been sufficient to reduce stock levels. Benchmark September contract trading MYR14 lower at MYR2,391/ton, close to intraday low MYR2,390/ton. (shie-lynn.lim@dowjones.com)

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