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Friday, March 27, 2009
Trader's Comment: CPO futures ended lower after a jumpy tight range trading.
CPO futures ended lower after a jumpy tight range trading. Initially it started with mixed to easier with Benchmark Jun09 opened RM5 lower at 2030 and drifted to 2007 and finish at 2010 for the morning break. Market tone were rather mix, hiher closed in overnight CBOT and NYMEX crude oil were offset by easier Asian time trading. Prices slid further in the afternoon session to hit 1990 following softer soy oil prices trading in eCBOT. It managed to bounce back to hit 2030 and then trading in a choppy manner between 2000-2020. Last split of second selling during the auction time sent Benchmark Jun09 to settle RM45 lower at 1990.