20070608 Crude Palm Oil futures crases down 174 ppints, one of the biggest drops for that market in recent memory. Soybean oil futures on CBOT follows suit. Is it part of the contagion whereby the US stock markets crashes in response to the rise in long bond yields above 5.0% and the start of the bursting of the asset bubbles worldwide, or is it a knee jerk reaction. Whatevr the reason, the speed and magnitude of this drop points to one thing, the real buyers of the commodity are absent in this market, because they don't step in to buy on the way down, causing a vacuum effect. But anyway, there could be a very good trading opportunity next week, on the long side for cpo futures. Watch the support levels.