[Dow Jones] BMD CPO futures trading lower midday; prices to ease in afternoon trade due to rise in output, say traders. "Even though export figures were supportive, investors are now worried about output. October and November (output) numbers are expected to be higher as the sector enters peak production," says senior trading executive from Kuala Lumpur-based global commodities brokerage; adds end-October stocks may rise to 1.63 million-1.65 million tons. MPOB put September reserves at 1.58 million tons. But prices may remain rangebound, as spread between soybean oil, palm oil has been widening, says Malaysia-based exporter. "That's why palm oil prices can't come down that much even though output and stocks are expected to rise." Benchmark BMD CPO futures trading MYR25 lower midday at MYR2,193/ton. (LSL)
Call us in Kuala Lumpur : +(603) 2026 1233; E-mail:shie-lynn.lim@dowjones.com
(END) Dow Jones Newswires
October 27, 2009 00:44 ET (04:44 GMT)
Copyright (c) 2009 Dow Jones & Company, Inc.
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