Trader's Comment: CPO futures recouped early losses to end positive

CPO futures prices ended positive on late buying interest. New benchmark Nov 08 initially opened RM 12 lower at 2440 as tracking overnight losses in CBOT soyoil coupled with weaker NYMEX crude oil prices. Market momentum remained weak and saw Nov 08 closed at 2434, down RM 18 in midday break. However, stronger Dalian Commodities Exchange on palm oil and soybean oil prices and positive NYMEX crude oil prices in Asian trading zone had mange to keep prices sustained well in positive territory.Prices were then hovering around 2440-2460 most in the afternoon session before late buying interest helped to push prices to close at day high at 2485, up RM 33. Total daily volume stood at 10,089 contracts changed hands.