Tuesday, June 8, 2010

[DJ]DJ MARKET TALK: BMD CPO Futures May Open MYR5-MYR15 Lower

[Dow Jones] BMD CPO futures expected to open MYR5-MYR15 lower on long liquidation, weakness in overnight crude, traders say. "CPO is likely to open lower, but may rebound later in the session on technical buying," says trading executive in Kuala Lumpur. CPO futures likely to move in MYR2,440-MYR2,460/ton range today, says analyst in Singapore. Nymex light, sweet crude for July settled 7 cents lower at $71.44/bbl, though last trading 20 cents higher on Globex. Benchmark BMD August CPO contract ended MYR25 lower at MYR2,449/ton yesterday.

(shie-lynn.lim@dowjones.com) Call us in Kuala Lumpur: +(603) 2026 1233
(END) Dow Jones Newswires

06-07-10 2200ET
Copyright (c) 2010 Dow Jones & Company, Inc.

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