Trader's Comment: Lack of follow through buying set prices to end at day low

CPO futures finishes off the high after setting intra-day high in late trading but it ended and settled at day low on lack of follow through buying interest. Earlier market was trading in a tight range between 2177 to 2165 through out most of the day before late covering activities emerged and pushed benchmark Dec09 prices surged to intra-day high at 2196. However, lack of follow through buying coupled with intra-day profit taking brought prices down to settle RM 3 higher at 2160. Recently, FCPO prices rallies were due to NYMEX crude oil prices which has been steadily trade between USD70.00 to USd75.00 per barrel and higher soyoil prices.