Trader's Comment: CPO futures surrender some gains to finish off high on pre-weekend profit taking activities

Pre-weekend profit taking after last few session of good rebound saw CPO futures to surrender some gains to finish off high. Benchmark Nov08 prices rallied to hit intra-day high at 2753 boosted by short-covering and speculative buying following a hefty gains in overnight CBOT and strong crude oil prices in NYMEX. It ease off and tumbled to hit 2688 in last hour of trading. Later, it settled RM62 higher at 2715.