CPO Futures Extend Rally To End Higher, Tracking Soybean Oil's Uptrend

By Engku Shariful Azni Engku Ab Latif

KUALA LUMPUR, July 24 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives continued its rally to close higher on Wednesday following the uptrend in soybean oil prices.

Palm oil trader David Ng said weaker CPO production in Indonesia also lifted market sentiment today.

“We see CPO prices supported at RM4,200 (per tonne) and resistance at RM4,350,” he told Bernama.

At the close, the spot-month August and October 2025 contracts gained RM15 each to RM4,259 and RM4,330 per tonne respectively, while the September 2025 and December 2025 contracts rose RM12 each to RM4,310 and RM4,329 per tonne respectively.

The November 2025 contract improved RM14 to RM4,334 per tonne, and January 2026 climbed RM8 to RM4,321 per tonne.

Trading volume eased to 75,735 lots from 75,900 lots on Wednesday, while open interest widened to 233,661 contracts from 231,569 previously. 

The physical CPO price for July South edged up RM10 to RM4,280 per tonne.

-- BERNAMA