Trader's Comment: CPO futures prices ended off the high on pre-weekend short covering.

CPO futures prices ended off the high on pre-weekend short covering. Trading activities were cautious ahead of Jul09 supply and demand data by MPOB and 1-10 days export data by private cargo surveyors scheduled to release on Monday. Weaker regional stock market and lower NYMEX crude oil coupled with negative E-CBOT soyoil prices traded in Asian trading time continue to weigh on the market sentiment. However, talks that export for the 1-10 days around 450,000 tonnes provided some cushion to the downside and saw prices ranging from 2306 to 2329 for most of the trading session. Short covering emerged at late trading session pushed prices to close off the intra-day high at 2341 with total daily volume stood at 11,528 contracts changed hands.