Monday, June 7, 2010

DJ MARKET TALK: BMD CPO Futures May Open MYR10-MYR25 Lower

[Dow Jones]--BMD CPO futures expected to open MYR10-MYR25 lower amid broad-based selling pressure in regional stock markets, commodities, traders say. Crude oil's falling below $70/bbl in early Asian trade could push prices to MYR2,450/ton level on profit-taking, selling pressure, says broker in Malaysia; puts contract in MYR2,430-MYR2,465/ton range today. Benchmark August contract ended MYR18 higher Friday at MYR2,474/ton. July crude oil trading $1.60 lower at $69.91/bbl on Globex after falling 4.2% Friday.


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