CPO Futures Likely To Trade Within RM4,200-RM4,300 Next Week

By Nur Athirah Mohd Shaharuddin

KUALA LUMPUR, July 4 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives are expected to trade within the range of RM4,200 to RM4,300 next week, due to anticipated profit-taking activities and mixed supply-and-demand signals, said an industry trader.

Interband Group of Companies senior palm oil trader Jim Teh said the recent decline in crude oil prices to around US$71 per barrel is likely to prompt speculative traders to take profit in the CPO market next week.

“However, CPO prices are still expected to be supported by energy-related factors, even as the crude oil market weakens. The trading range will be between RM4,200 and RM4,300 next week, which is good prices,” he told Bernama.

Iceberg X Sdn Bhd proprietary trader David Ng said that CPO futures are expected to trade with a bearish bias next week due to ongoing concerns about increasing production levels in the upcoming weeks.

He said the futures market is expected to trade between RM4,400 and RM4,550 next week.

On a Friday-to-Friday basis, the July 2026 contract fell RM65 to RM4,439 per tonne, the August 2026 contract declined RM81 to RM4,458 per tonne, and the September 2026 contract was RM88 lower at RM4,480 per tonne.

The October 2026 contract slipped RM86 to RM4,505 per tonne, the November 2026 contract dipped RM78 to RM4,533 per tonne, and the December 2026 contract slid RM72 to RM4,559 per tonne.

The weekly trading volume fell to 314,563 lots from 330,455 lots last week, while open interest edged up to 289,382 contracts from 287,112 previously.

The physical CPO price for July South contracted by RM60 to RM4,470 per tonne.

-- BERNAMA