Trader's comment: CPO futures found support around 2900 level

CPO futures found support around 2900 level and reversed all of the early losses to end higher after a fairly active trading session. Short covering ahead of full July export data scheduled to release by private cargo surveyors and technical rebound after yesterday's sharp fall saw benchmark Oct 08 prices rallied to 2994 in late trading before it settling RM 23 higher at 2992. Market anticipates full July export figures between 1.37-1.4 mln tonnes.