CPO Futures End Lower Tracking Weaker Soybean Futures

By Danni Haizal Danial Donald

KUALA LUMPUR, Sept 21 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives ended lower on Monday, tracking weaker soybean oil futures on the Chicago Mercantile Exchange (CME).

Iceberg X Sdn Bhd proprietary trader David Ng said the lower crude oil prices also weighed down market sentiment. At the time of writing, Brent crude oil prices dropped 2.56 per cent to US$101.15 per barrel.

“Hence, we see prices supported above RM4,800 per tonne and resistance at RM4,950 per tonne,” he told Bernama.

Meanwhile, Fastmarkets Palm Oil Analytics senior analyst Sathia Varqa said the bearish market sentiment, weak fundamentals and fading external market support had sustained selling pressure in CPO futures.

“September palm oil production is widely expected to increase while exports are likely to decline, raising the prospect of higher palm oil stocks once again,” he said.

At the close, the October 2026 contract fell RM10 to RM4,688 per tonne, while the November 2026 contract declined RM21 to RM4,779 per tonne and the December 2026 contract slipped RM41 to RM4,857 per tonne.

Meanwhile, the January 2027 contract weakened by RM54 to RM4,929 per tonne, February 2027 slid RM62 to RM4,992 per tonne and March 2027 contracted RM69 to RM5,044 per tonne.

Trading volume eased to 87,334 lots from 122,261 last Friday, while open interest rose to 418,306 contracts from 339,480 previously.

The physical CPO price for September South gained RM50 to RM4,700 per tonne.

-- BERNAMA