11/08/04, KUALA LUMPUR (Dow Jones)--Private surveyor Palmis ManagementBhd. Wednesday estimated Malaysia's July crude palm oil output around1.230 million metric tons, up from the 1.17 million tons produced in June,said traders familiar with the latest Palmis report.According to traders who obtained the data, Palmis estimated July palmoil exports at 1.055 million tons, up from 886,376 tons in June.Palmis pegged end-July stocks at 1.315 million tons, up from 1.21million tons at end-June.Palmis is the only private palm oil crop forecaster in Malaysia, andits production, export and stock forecasts are closely watched by themarket.Traders said the figures aren't expected to have any significantimpact on palm oil prices, as there were no major changes from a previousreport issued a week ago.At 0705 GMT, the benchmark October CPO contract was at 1,424 ringgit($1=MYR3.8) a ton, up MYR7 from Tuesday.CPO futures were slightly higher amid short covering on the nearbycontract ahead of its expiry.The spot August contract ceases trading midday Friday.Slightly higher soyoil futures in electronic trading also lifted palmoil prices, traders said.However, trading interest was largely sluggish Wednesday asparticipants wait for official July supply and demand data.The figures are scheduled to be released midday Thursday by theMalaysian Palm Oil Board.Also due Thursday is the U.S. Department of Agriculture's monthly cropreport on soybeans.