November 08, 2006	Wednesday	Shawwal 15, 1427

BANGKOK, Nov 7: Malaysian crude palm oil futures were marginally lower on Tuesday, weighed down by weak US soyaoil and an absence of positive leads.

At lunch, the benchmark January contract contract on the Bursa Malaysia Derivatives exchange was down 2 ringgit at 1,706 ringgit a ton ($467.4) after trading between 1,698 ringgit and 1,711 ringgit.

Other traded contracts were down 2 to 6 ringgit and overall volume was 3,676 lots of 25 tons each.

The market was expected to trade in a range of 1,700 ringgit and 1,730 ringgit until new factors emerged, dealers said. There is no other factor in the market, a trader said.

The state-run Malaysian Palm Oil Board will also release October palm oil production, stocks and exports data on Friday.

So, I think the market will try to play at a range of 1,700 ringgit and 1,730 ringgit for a while, the first trader said.—Reuters