CPO FUTURES SLIP ON WEAK SOYBEAN OIL, SNAPPING 5-DAY RALLY

WORLD
By Siti Noor Afera Abu
KUALA LUMPUR, May 30 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives snapped its five-day rally to close lower on Friday, dragged down by weakness in the soybean oil market, said palm oil trader David Ng.
He noted that key support and resistance levels are seen at RM3,800 and RM4,000 per tonne respectively.
Meanwhile, Fastmarkets Palm Oil Analytics senior analyst Dr Sathia Varqa said CPO futures close lower as traders booked their profits ahead of the long weekend.
At the close, the spot month June 2025 contract lost RM41 to RM3,888 per tonne, July 2025 decreased by RM51 to RM3,491 per tonne, and August 2025 went down RM54 to RM3,878 per tonne.
September 2025 was RM51 lower at RM3,870 per tonne, October 2025 slid by RM49 to RM3,870 per tonne, and November 2025 eased RM46 to RM3,874 per tonne.
Trading volume fell to 59,698 lots from 69,553 lots yesterday, while open interest narrowed to 241,994 contracts from 244,448 contracts previously.
The physical CPO price for June South fell by RM30 to RM3,930 per tonne.
Bursa Malaysia Bhd and its subsidiaries will be closed on June 2 in conjunction with the official birthday of His Majesty Sultan Ibrahim, King of Malaysia and would resume operations on June 3 (Tuesday).

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