Trader's Comment: Palm oil futures ended lower after a range bound trading sessions.

Palm oil futures ended lower after a range bound trading sessions. Benchmark Nov09 had been ranging in the negative territory as it hovered between 2373-2323 level through out the whole day. The results of export data for Aug 1-25 released by both private cargo surveyors had indeed fallen significantly lower but the decline was better than market expectation. ITS & SGS reported a decrease of 10.5% and 7.5% respectively, instead of the 12% which was talked yesterday. Benchmark Nov09 finally settled RM20 lower at 2355. External markets were rather weak as both Asian time NYMEX crude oil and eCBOT soy oil edged lower today, while Dalian palm also ended inching lower.