Crude Palm oil yesterday traded with the negative node and settled -1.76% down at 434.4 weighed by falling exports and persistently high stocks in the world's No. 2 producer of the edible oil. As per latest release from Cargo Surveyor Intertek Agri Services, Malaysia's palm oil exports during January 1-20 declined by 25% from the same period in December to 3.73 lakh metric tonnes. As per latest release from Malaysian Palm Oil Board , Malaysia's December crude palm oil output declined by 5.90% from November to 1.78 million metric tonnes. The end-December palm oil stocks augmented by 2.60% to 2.63 million tonnes. Palm oil could face further pressure as data released by the Malaysian Palm Oil Board after the midday break showed stocks climbed 2.4 percent from previous month to a new record at 2.63 million tonnes, fuelling concerns that inventory level could remain high well into January. The data went against market expectations that stocks likely dropped 2.5 percent to 2.5 million tonnes. Malaysia's weather office maintained its forecast for heavy rain, saying the downpour may cause floods in low-lying areas in the key palm producing state of Sarawak and could possibly disrupt harvesting. In yesterday's trading session Crude Palm oil has touched the low of 433.1 after opening at 441.8, and finally settled at 434.4. For today's session market is looking to take support at 431, a break below could see a test of 427.6 and where as resistance is now likely to be seen at 439.9, a move above could see prices testing 445.4.

CPO

CPO trading range for the day is 427.6-445.4.

Crude ended lower weighed by falling exports and persistently high stocks

Malaysia's palm oil exports during January 1-20 declined by 25% from same period in December to 3.73 lakh mt tns

Malaysia's December crude palm oil output declined by 5.90% from November to 1.78 million metric tonnes.

Crude palm oil prices in spot market dropped by 5.40 rupees and settled at 430.40 rupees.

SELL CPO JAN @ 435 SL 438.50 TGT 432.20-428.50.MCX