Crude palm Oil on MCX settled up by 1.48% at 499.2 on short covering after prices dropped on expectation of higher supply. Oil stockpiles in Malaysia is expected to rise by 0.6% to 1.61 million tons in May compared to same period a year ago and the highest level since Dec. Malaysian Palm Oil Board will release output, stockpiles and export data for the month of May on June 13. 

Another data released by CIMB showed Malaysia's palm oil output for month of May is expected to rise by 4% to 1.61 million tons as compared to same period a month ago while 18% higher on yearly basis.

Trading Ideas:

* CPO trading range for the day is 489.5-504.9.

* Crude palm oil ended with gains on short covering after prices dropped on expectation of higher supply.

* Oil stockpiles in Malaysia is expected to rise by 0.6% to 1.61 million tons in May compared to same period a year ago.

* Malaysian Palm Oil Board will release output, stockpiles and export data for the month of May on June 13. Crude palm oil prices in spot market gained by 0.60 rupees and settled at 503.20 rupees.

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