CPO Futures Slip On Weaker Soybean, Crude Oil Prices
By Nurunnasihah Ahmad Rashid
KUALA LUMPUR, July 21 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives ended lower on Tuesday amid weakness in the soybean oil and crude oil markets, said a trader.
Iceberg X Sdn Bhd proprietary trader David Ng said expectation of rising output and elevated stock levels in the country also weighed on today's sentiment.
“We see prices supported above RM4,550 per tonne and resistance at RM4,680 per tonne,” he told Bernama.
At the close, the August 2026 and October 2026 contracts decreased RM33 each to RM4,535 and RM4,610 per tonne, respectively, while the September 2026 contract fell RM34 to RM4,574 per tonne.
The November 2026 contract dropped RM28 to RM4,645 per tonne, while December 2026 and January 2027 reduced RM26 each to RM4,679 and RM4,709, respectively.
Trading volume rose to 78,960 lots from 57,818 lots on Monday, while open interest shrank to 285,461 contracts from 286,708 contracts yesterday.
The physical CPO price for August South went down RM40 to RM4,540 per tonne.
-- BERNAMA