• 04/11/2026 09:22 PM

CPO Futures Extend Losses As Inventory Concerns Weigh On Market Sentiment

By Durratul Ain Ahmad Fuad

KUALA LUMPUR, Nov 4 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed lower today due to concerns over record-high Malaysian inventories impacting market sentiment.

Iceberg X Sdn Bhd proprietary trader David Ng said the market is expected to maintain a cautious tone, with traders keeping a close watch on inventory levels and upcoming supply and demand data.

“We see immediate support around RM4,450 per tonne and resistance at RM4,600 per tonne, with market sentiment likely to remain cautious ahead of the release of the Malaysian Palm Oil Board’s October palm oil supply and demand report on Nov 10,” he told Bernama.

At the close, the November 2026 and December 2026 contracts eased RM50 each to RM4,300 per tonne and RM4,407, respectively, while the January 2027 contract fell RM55 to RM4,496, the February 2027 contract went down RM61 to RM4,576, the March 2027 contract decreased RM66 to RM4,644 and the April 2027 contract weakened RM64 to RM4,696 per tonne.

Trading volume expanded to 137,168 lots from 88,707 lots on Tuesday, while open interest slipped to 334,908 contracts from 337,745 previously.