CPO Futures End Sharply Higher On Stronger Soybean Oil, Crude Oil Prices

By Fatin Umairah Abdul Hamid

KUALA LUMPUR, Nov 11 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives ended sharply higher on Wednesday, supported by stronger soybean oil and crude oil prices, said a dealer.

Iceberg X Sdn Bhd proprietary trader David Ng said market sentiment was also lifted by data from the Southern Peninsula Palm Oil Millers’ Association (SPPOMA), which indicated a slower-than-expected pace of production in early November.

He added that the weaker production outlook, coupled with October’s smaller-than-expected inventory build-up, had further improved market sentiment despite domestic stock levels remaining elevated.

“We see immediate support around RM4,300 per tonne and resistance at RM4,450 per tonne. Market direction will likely remain sensitive to production trends and movements in competing vegetable oils,” he told Bernama.

At the close, the November 2026 contract gained RM116 to RM4,156 per tonne, December 2026 advanced RM143 to RM4,281 per tonne, and the January 2027 contract added RM154 to RM4,410 per tonne.

The February 2027 and April 2027 contracts both climbed RM162 to RM4,524 per tonne and RM4,679 per tonne respectively, and the March 2027 contract strengthened RM166 to RM4,617 per tonne.

Trading volume increased to 158,137 lots from 153,954 lots on Tuesday, while open interest rose to 335,671 contracts from 334,827 contracts previously.

The physical CPO price for November South gained RM90 to RM4,170 per tonne.

-- BERNAMA