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Tuesday, November 27, 2012

BMD CPO May Open Higher On Greek Deal, CBOT

 


0219 GMT [Dow Jones] BMD CPO futures may rise at the start of trading Tuesday on the back of upbeat external sentiment after euro-zone ministers reached a deal to provide support to Greece and gains in CBOT soyoil futures. Palm oil is tipped to move within a MYR2,400-MYR2,450/ton range, as investors turn focus to price outlooks by leading vegoil analysts James Fry, Thomas Mielke and Dorab Mistry in Bali later this week and the U.S. fiscal cliff negotiations. Benchmark February CPO ended 1.5% higher at MYR2,432/ton Monday/ton; CBOT December soyoil settled 0.5% higher at 49.27 cents/lb Monday and was last trading 0.5% higher in screen trade. (shie-lynn.lim@dowjones.com)

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