Tuesday, 26 July 2011

DJ News On Output Data In Focus

0412 GMT [Dow Jones] BMD CPO futures rise slightly in anticipation of a slowdown in August CPO production, when many labourers will celebrate Ramadan, though exports will remain strong, says a Kuala Lumpur-based trading executive. Malaysia's June CPO output rose 0.7% from a month earlier to 1.75 million tons while exports rose 12% to 1.58 million tons, according to MPOB data released July 11. The executive expects resistance for BMD CPO at MYR3,120/ton today as
U.S. debt ceiling talks and a weak global economic outlook make investors cautious; traders expect fresh cues from a key CPO production forecast by leading vegoil analyst Dorab Mistry later this week, he says. The benchmark October contract is trading MYR10 higher at MYR3,110/ton.(surabhi.sahu@dowjones.com)
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