Wednesday, June 30, 2010

DJ MARKET TALK: BMD CPO Up A Tad On Soyoil; Exports Fail To Jolt

[Dow Jones] BMD CPO futures gain slightly, spurred by recovery in soyoil, traders say. Benchmark September CPO +MYR4 at MYR2,370/ton, off intraday low MYR2,338/ton; e-CBOT July soyoil +37 points at 36.30 cents/lb. Soyoil providing some support, but buying interest tepid as export estimates, while positive,
come in close to market expectations; "there's nothing to jolt the market into action," says Kuala Lumpur-based trader. SGS (Malaysia) Bhd. estimates Malaysia June palm oil shipments +1.2% on month at 1.34 million tons, lower than Intertek's estimate of 1.35 million tons; market expected 1.36 million tons.(

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