Trader's Comment: CPO futures surrendered earlier gains to end broadly lower

CPO futures surrendered earlier gains to end broadly lower dragged down by regional weaken stock market and easier e-CBOT as well as lower NYMEX crude oil trading in Asian time zone. Market sentiment turn weak in the afternoon session as regional stock market tumble. This prompted speculative selling and intra-day long liquidation. Soyoil trading in e-CBOT from positive to negative also further pressure the market sentiment. Benchmark Dec08 price tumbled to 1755 before it recovered some ground to setlle RM75 lower at 1775. Potential of piling-up end month stocks remain concern by market players.