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BMD CPO futures are lower at midday,
tracking weakness in CBOT soyoil;
though declines are likely to be limited after
industry regulator MPOB says
End-June stockpiles drop to a 14-month low of 1.70
million tons due to strong exports at a time when production remains tepid, a
commodities broker in Kuala Lumpur says.
MPOB says June output is up 6.3% on
month at 1.47 million tons, while exports have risen 8.7% to 1.53 million tons
in June. Benchmark September CPO is down 0.8% at MYR3,129/ton; CBOT August
soyoil is down 0.6% at 54.23 cents/lb in screen trade.
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