Thursday 7 July 2011

DJ Market Talk Palm Oil News

[Dow Jones] BMD CPO futures are higher on the back of crude prices and the Dalian complex; a trading executive in Kuala Lumpur says that the market is expecting fresh cues from Malaysia palm oil stocks, exports and output data for June likely to be released by MPOB Monday and the USDA supply-and-demand report due Tuesday; still, he doesn't a breach of MYR3,100/ton resistance as output and inventories data is likely to be bearish. Benchmark September CPO is MYR25 higher at MYR3,054/ton. (surabhi.choudhary@dowjones.com)