CPO Futures Rebound, Snap Three-day Losing Streak On Stronger Export Outlook
By Muhammad Fawwaz Thaqif Nor Afandi
KUALA LUMPUR, June 26 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives snapped a three-day losing streak to close mostly higher on Friday, supported by stronger export estimates that offset pressure from weaker crude oil prices.
Iceberg X Sdn Bhd proprietary trader David Ng said CPO futures gave up earlier gains as declining crude oil prices dampened market sentiment, but improved export prospects helped limit losses and kept the market in positive territory. “We see prices supported above RM4,500 with resistance at RM4,700,” he told Bernama.
At the close, the spot month July 2026 contract fell RM9 to RM4,504 per tonne, while August 2026 added RM4 to RM4,539 and September 2026 gained RM11 to RM4,568.
The October and November 2026 contracts climbed RM12 to RM4,591 and RM4,611 per tonne, respectively, while December 2026 edged up RM8 to RM4,631.
The trading volume fell to 89,194 lots from 120,463 lots on Thursday, while open interest declined to 284,997 contracts from 285,853 previously.
The physical CPO price for July South remained unchanged at RM4,530 per tonne.
-- BERNAMA