Trader's Comment: Palm oil futures slightly rebounded from yesterday’s losses to end off high.

Palm oil futures slightly rebounded from yesterday’s losses to end off high. Benchmark Aug09 hit intra day high of 2559 after opened RM41 higher at 2540, tracking the high prices traded in eCBOT soy oil and Dalian palm during early trading hour. However, it then eased of again until it hit intra day low at 2494 before morning close. Prices began to hover between 2500-2530 level through out the afternoon session until it finally settled RM23 higher at 2522. External markets were mix today as eCBOT soy oil rebounded strongly from its overnight losses while Dalian palm surrendered its earlier gains and ended lower during Asian time trading.