CPO Futures Extend Gains, Lifted By Stronger Soybean Oil Prices
WORLD
By Siti Noor Afera Abu
KUALA LUMPUR, May 27 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives continued its upward trend to close higher today, as market sentiments were boosted by the rise in soybean oil prices on the Chicago Board of Trade.
Palm oil trader David Ng said expectations of increased demand for CPO from China and other markets also contributed to the rise in prices.
'We see support at RM3,800 per tonne and resistance at RM4,000 per tonne,' he told Bernama.
At the close, the spot month June 2025 contract rose by RM32 to RM3,867 per tonne, July 2025 increased by RM32 to RM3,875 per tonne, and August 2025 went up RM35 to RM3,868 per tonne.
September 2025 advanced by RM37 to RM3,862 per tonne, October 2025 gained RM36 to RM3,865 per tonne, and November 2025 rose by RM33 to RM3,866 per tonne.
Trading volume widened to 49,593 lots from 34,817 yesterday, while open interest was slightly lower at 243,185 contracts from 243,913 contracts previously.
The physical CPO price for June South was increased by RM30 to RM3,900 per tonne.
-- BERNAMA
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