Crude Palm oil settled flat as gains were eventually capped by data showing a drop in exports. The palm oil gains were trimmed after cargo surveyor Intertek Testing Services reported a 9.4 percent decline in Malaysian palm shipments to 799,405 tonnes for the first 20 days of the month from the same period in April. Investors were hoping for palm oil exports to eat further into stocks, which fell below the 2-million tonne psychological mark in April to 1.83 million tonnes. As per latest release from Cargo Surveyor Intertek Agri Services, Malaysia's palm oil exports during May 1-10 declined by 17% from the same period in April to 3.80 lakh metric tonnes. As per latest release from Malaysian Palm Oil Board , Malaysia's April crude palm oil output increased by 3.10% from March to 1.37 million metric tonnes. While April exports declined by 5.60% to 1.45 million metric tonnes. The end-April palm oil stocks declined by 11% to 1.93 million tonnes. India's imports of palm oil fell for a second straight month in March, as domestic supply improved and purchases by the world's biggest buyer continued to suffer from an import levy imposed in January. Meanwhile, palm oil exports from Malaysia fell 7.5% to 1.07 mn tons in the first 25 days of March against the same period of last month, according to surveyor Intertek. In yesterday's trading session Crude Palm oil has touched the low of 468.3 after opening at 471.2, and finally settled at 471.2. For today's session market is looking to take support at 469, a break below could see a test of 466.9 and where as resistance is now likely to be seen at 472.6, a move above could see prices testing 474.1.

Trading Ideas:

CPO trading range for the day is 466.87-474.07.

Crude palm oil settled flat as gains were eventually capped by data showing a drop in exports.

The palm oil gains were trimmed after data reported a 9.4% decline in Malaysian palm shipments to 799,405 tonnes

Malaysia's palm oil exports during May 1-10 declined by 17% from the same period in April to 3.80 lakh metric tonnes.

Crude palm oil prices in spot market dropped by Rs 0.20 and settled at 468.70 rupees.