Wednesday, July 7, 2010

DJ MARKET TALK: BMD CPO Futures Called To Open MYR5-MYR15 Higher

[Dow Jones] BMD CPO futures tipped to extend gains, may open MYR5-MYR15 higher crude gains in Asia, short covering; "the sharp fall in prices has attracted fresh buying interest, with bargain hunting around MYR2,290/ton," says Kuala Lumpur-based broker; but says upside likely capped around MYR2,310/ton as stronger ringgit to weigh; dollar last MYR3.2030 vs MYR3.2050 late yesterday. Benchmark September contract ended MYR11 higher at MYR2,301/ton yesterday, after touching MYR2,277/ton intraday, its lowest since Nov. 13. (

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