CPO Futures Snap Three-Day Rally On MPOB's Higher September Stocks
By Fatin Umairah Abdul Hamid
KUALA LUMPUR, Oct 10 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives snapped a three-day winning streak to close lower on Friday, reversing earlier gains, after the Malaysian Palm Oil Board (MPOB) reported higher-than-expected stock levels, said palm oil trader David Ng.
According to MPOB, CPO inventories rose 17.6 per cent to 1.27 million tonnes in September from 1.08 million tonnes in August.
Ng said the overall bearish sentiment following the higher stock data continued to weigh on prices.
“We see support at RM4,450 a tonne and resistance at RM4,650 a tonne,” he told Bernama.
At the close, the spot-month October 2025 and March 2026 contracts eased RM38 to RM4,468 a tonne and RM4,530 a tonne, respectively; November 2025 and January 2026 fell RM48 to RM4,496 a tonne and RM4,565 a tonne, respectively; and December 2025 and February 2026 declined RM47 to RM4,544 a tonne and RM4,556 a tonne, respectively.
Total volume rose to 113,058 lots from 128,061 lots on Thursday, while open interest increased to 282,064 contracts from 278,044 previously.
At the physical market, October South fell RM30 to RM4,500 a tonne.
-- BERNAMA