Trader's Comment: Profit taking activities led palm oil futures to end lower after range trading.

Profit taking activities led palm oil futures to end lower after range trading. Lack of fresh leads in the market had given traders the excuse to book their earlier profits in the previous 2-days rally. Benchmark Oct09 initially opened RM22 lower at 2140 and then started to move sideways, hovering between 2162-2128 through out the day until it ended RM19 lower at 2143. External vege oil markets also showed some weakness today after eCBOT soy oil edged lower while Dalian palm surrendered its earlier gains to ease off further. Daily volume increased slightly with 15,855 contracts changed hands.