Crude palm Oil on MCX settled down by -0.65% at 550.6 on profit booking after prices gained on increasing weather concerns in Indonesia, Malaysia, the world's top palm oil producer and strong demand in global market. There are 50% chance of La Nina formation by November 2017 as tropical Pacific Ocean will continue to cool, while el nino Southern Oscillation (ENSO) is neutral, the Australian Government Bureau of Meteorology said.

Trading Ideas:

* CPO trading range for the day is 545.1-559.7.

* Crude palm oil dropped on profit booking after prices gained on increasing weather concerns in Indonesia, Malaysia, and strong demand in global market.

* Malaysia palm oil exports during Oct 1-31 rose 2.46% compared to same period a month on strong demand from India & Subcontinent, data showed.

* India's palm oil import from Malaysia during Oct 1-31 rose 20.07% to 314,210 tons compared to 261,675 tons in the same period a month ago, data showed.

* Crude palm oil prices in spot market dropped by 1.50 rupees and settled at 543.20 rupees.

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