Trader's Comment: Palm oil futures extended its sideway movement and ended slightly lower.

Palm oil futures extended its sideway movement and ended slightly lower. Benchmark Nov09 initially hit intra day high of 2369 after opened almost unchanged at 2360, but then immediately eased off and began to hover in the negative territory for the rest of the day. It settled RM11 lower at 2346, after moving in a tight range between 2355-2335 through out most of the sessions. Trading activity remained rather quiet, which may be partly due to school holiday through out this week. Daily volume declined again with a total of 11,155 contracts that changed hands.