By Siti Noor Afera Abu
KUALA LUMPUR, May 29 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives climbed for the fifth consecutive session today, driven by stronger soybean oil prices.
Palm oil trader David Ng noted that sentiment was further boosted by a weaker ringgit against the US dollar, making the commodity more attractive to foreign buyers.
“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 RM30 to RM3,929 per tonne, July 2025 increased by RM34 to RM3,942 per tonne, and August 2025 went up RM33 to RM3,932 per tonne.
September 2025 was RM31 higher at RM3,921 per tonne, October 2025 gained RM30 to RM3,919 per tonne, and November 2025 increased by RM27 to RM3,920 per tonne.
Trading volume rose to 69,553 lots from 68,326 lots yesterday, while open interest improved to 244,448 contracts from 242,428 contracts previously.
The physical CPO price for June South rose by RM40 to RM3,960 per tonne.
-- BERNAMA
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