Trader's Comment: CPO futures ended its previous 4-day winning streaks to close lower on profit taking.

CPO futures ended its previous 4-day winning streaks to close lower on profit taking. Higher prices seen in eCBOT soy complex during early Asian time trading had given traders the opportunity to book profit when Benchmark Jun09 hit the intra day high of 2196 after opened RM16 higher at 2181. However, the strong external factors failed to give a boost on the sentiment of local CPO market due to lack of follow through buying activities. CPO prices began to ease off slowly through out the day until it hit intra day low at 2126 in the late afternoon session. It finally settled RM20 lower at 2145. Rival soy oil edged higher while NYMEX crude oil gained more than 1% in Asian time trading.