CPO Futures End Higher On Stronger Soybean, Crude Oil Prices
By K. Naveen Prabu
KUALA LUMPUR, July 18 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed higher today, tracking gains in global soybean oil and crude oil markets.
Palm oil trader David Ng said stronger prices in related commodities helped lift sentiment across the broader vegetable oil complex, pushing CPO above the RM4,300 mark.
“Since soybean oil competes with palm oil in the global edible oil market, higher soybean oil prices push buyers to switch to palm oil, increasing palm oil demand and supporting its price,” he told Bernama.
He added that rising crude oil prices tend to boost demand for biofuels, which increases interest in palm oil as a feedstock.
“We see support at RM4,200 per tonne and resistance at RM4,450,” Ng said.
At the close, the spot-month August contract rose RM124 to RM4,262 per tonne, while the September 2025 contract gained RM129 to RM4,309 per tonne and the October 2025 contract climbed RM105 to RM4,315 per tonne.
The November 2025 contract increased by RM88 to RM4,305 per tonne, December 2025 added RM77 to RM4,290 per tonne and the January 2026 contract advanced RM70 to RM4,275 per tonne.
Trading volume rose to 136,709 lots from 119,798 lots on Thursday, while open interest increased to 237,735 contracts from 232,699 contracts previously.
The physical CPO price for July South increased RM120 to RM4,290 per tonne.
-- BERNAMA