Friday, July 9, 2010

DJ MARKET TALK: BMD CPO Futures May Open MYR5-MYR10 Higher

[Dow Jones] BMD CPO futures called to open MYR5-MYR10 higher, tracking crude's rise, short covering. Stronger export demand in July to support, says Malaysia-based exporter. Tips trade in MYR2,280-MYR2,310/ton range today. But rise in ringgit likely to cap upside, says Kuala Lumpur-based analyst. Dollar
fell vs ringgit to MRY3.1900 vs MYR3.1925 yesterday. Benchmark September contract ended MYR20 higher at MYR2,290/ton. August crude oil trading 30 cents up at $75.74/bbl on Globex.

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