30/09/2010 (Commodity Online) - The MCX CPO futures advanced its bearish trend for third day in a row on extended selling pressure.

Weak-ness in soy market supported the CPO futures trade on a negative note. Indian market also borrowed weak-ness from Malaysian palm oil market.

Outlook
Crude palm oil futures are expected to open on a positive note on short covering and tracking firm overseas market.

BMD CPO futures are trading on a positive note reacting to positive export data.

According to Intertek Agri Service, a cargo surveyor, palm oil export from Malaysia in September month rose 21% M/M to 1,479,602 tons.

However, sharp rise in Indian market may not be expected because of huge stocks and poor buying interest. Weakness in entire edible oil market is likely to keep pressure on CPO market.