CPO Futures End Higher, Tracking Gains In Soybean Oil & Palm Olein
By Engku Shariful Azni Engku Ab Latif
KUALA LUMPUR, July 6 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed higher on Monday, buoyed by stronger performances in soybean oil on the Chicago Board of Trade and palm olein futures on China's Dalian Commodity Exchange, a trader said.
Iceberg X Sdn Bhd proprietary trader David Ng said the upward momentum reflected improving sentiment across the vegetable oils market, with traders taking cues from gains in key external markets.
“We see prices supported at RM4,500 a tonne and resistance at RM4,650 a tonne,” he told Bernama.
At the close, the spot month July 2026 contract increased RM46 to RM4,485 per tonne, August 2026 gained RM65 to RM4,523, and the September 2026 contract jumped RM70 to RM4,550 per tonne.
The October 2026 contract advanced RM67 to RM4,572 per tonne, November 2026 leapt RM61 to RM4,594, and the December 2026 contract climbed RM57 to RM4,616 per tonne.
The trading volume fell to 59,610 lots from 71,942 lots on Friday, while open interest slid to 288,418 contracts from 289,382 contracts previously.
The physical CPO price for July South rose by RM50 to RM4,520 per tonne.
-- BERNAMA