Wednesday, June 16, 2010

[DJ]DJ MARKET TALK: BMD CPO Futures Likely To Open MYR5-MYR15 Up

[Dow Jones] BMD CPO futures to open MYR5-MYR15 higher; get boost from crude's rally, technical rebound after trading yesterday to lowest level in seven months. Prices tipped to move in MYR2,370-MYR2,400/ton range today, says trading executive at Kuala Lumpur-based brokerage. Says upside limited on ample stocks in China; India's normal monsoon may boost domestic crops, reduce vegetable oil imports. Benchmark August contract ended MYR19 lower at MYR2,391/ton after tumbling to MYR2,378/ton, lowest level since Nov. 20. (

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(END) Dow Jones Newswires

06-15-10 2204ET

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