Crude Palm oil yesterday traded with the positive node and settled 0.16% up at 569.1 on firm spot demand amid expectations of strong demand. Palm-oil inventories in Malaysia, the second-biggest supplier, were probably little changed in June from a 13-month low as production advanced, potentially easing concern that global cooking-oil supplies would decline. Higher supplies may curb an 11 percent rally in palm-oil prices from an eight-month low in June. Ramadan starts in the third week of July this year. Exports from Malaysia gained 4.9 percent to 1.45 million tons last month, surveyor Intertek said June 30. Sales were 1.4 million tons in May, according to Malaysian Palm Oil Board data. Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance will issue Malaysia's exports data for the first 10 days of July on Tuesday. Industry regulator Malaysian Palm Oil Board (MPOB) will issue official data on stocks and output for June on the same day. Exports rose in June to close to 1.45 million tonnes, the highest so far this year, riding on higher demand from India, Pakistan and the Middle East. In yesterday's trading session Crude Palm oil has touched the low of 558.2 after opening at 566.2, and finally settled at 569.1. For today's session market is looking to take support at 561.7, a break below could see a test of 554.2 and where as resistance is now likely to be seen at 573.1, a move above could see prices testing 577.

Trading Ideas:

CPO trading range for the day is 554.23-577.03.

Crude palm oil ended with gains on firm spot demand amid expectations of strong demand.

Palm-oil inventories in Malaysia were probably little changed in June from a 13-month low as production advanced

Exports from Malaysia gained 4.9 percent to 1.45 million tons last month, surveyor Intertek said

Crude palm oil prices in spot market dropped by 0.40 rupees and settled at 566.40 rupees.