Trader's Comment: Palm oil futures ended lower after a choppy trading.

Palm oil futures ended lower after a choppy trading. Benchmark Aug09 initially fell to the morning low of 2603 after opened RM13 higher at 2638 but was quick to bounce back again and managed to close at 2640 before morning break. However, it immediately gapped down again when second session resumed trading and began to hover between 2619-2586 level before it finally settled RM27 lower at 2598. External markets were rather mix today as eCBOT soy oil inched lower while Dalian palm ended slightly higher. Traders were still cautiously waiting for any fresh clues on the end May stock level, even though the USDA attache in KL had highlighted in their report, stating that a small increase in CPO output could not offset the sharp reduction in carry-in stocks and resulted in lower level of stock.