CPO Futures End Mostly Higher On Firmer Soybean Oil, Export Performance

By Abdul Hamid A Rahman and K Naveen Prabu

KUALA LUMPUR, June 20 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed mostly higher today, supported by firmer soybean oil prices and improved sentiment driven by recent strong export performance.

Palm oil trader David Ng said the uptrend in soybean oil on the Chicago Board of Trade (CBOT) provided upward momentum for the local palm oil market, given the close relationship between the two competing vegetable oils.

“Soybean oil’s strength typically influences palm oil prices as both are used interchangeably in the global edible oil market,” he told Bernama.

Ng also said that recent export data indicating higher shipment volumes had boosted confidence among traders and helped sustain buying interest in the CPO futures market.

“The positive export trend suggests healthy overseas demand, which is crucial for market stability and price support,” he noted.

From a technical standpoint, Ng sees immediate support at RM4,000 per tonne, while resistance is anticipated at RM4,200

At the close, the new spot-month July contract fell by RM7 to RM4,071 per tonne, while August 2025 increased by RM8 to RM4,107 per tonne and September 2025 rose by RM14 to RM4,118 per tonne.

October 2025 increased by RM16 to RM4,115 per tonne, November 2025 was up RM19 to RM4,118 per tonne, and December 2025 added RM18 to RM4,126 per tonne.

Trading volume increased to 63,777 lots from 42,836 on Thursday, while open interest slipped to  231,757  contracts from 232,713 previously.  

The physical CPO price for July South decreased by RM10 to RM4,120 per tonne.

-- BERNAMA