CPO Futures End Lower On Weaker Crude Oil, Soybean Oil Prices
By K. Naveen Prabu
KUALA LUMPUR, July 27 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives ended lower on Monday, weighed by weaker crude oil and soybean oil markets.
Iceberg X Sdn Bhd proprietary trader David Ng said CPO prices came under pressure following weakness in the crude oil and soybean oil markets amid optimism over a potential peace deal in the West Asia conflict.
“We see prices supported above RM4,600 per tonne and resistance at RM4,750 per tonne,” he told Bernama.
Fastmarkets Palm Oil Analytics senior analyst Sathia Varqa said CPO futures traded lower throughout the day as support from the crude oil market dissipated.
“A sharp pullback in crude oil prices was largely responsible for the weaker palm oil futures,” he said.
At the close, the August 2026 contract slipped RM40 to RM4,551 per tonne, September 2026 fell RM47 to RM4,630 per tonne, and October 2026 declined RM49 to RM4,673 per tonne.
November 2026 dropped RM48 to RM4,705 per tonne, December 2026 eased RM47 to RM4,732 per tonne, and January 2027 shed RM43 to RM4,757 per tonne.
Trading volume declined to 62,982 lots from 118,819 lots on Friday, while open interest increased to 306,703 contracts from 306,540 contracts previously.
The physical CPO price for August South decreased RM50 to RM4,560 per tonne.
-- BERNAMA