CPO Futures End Lower On Weaker CBOT Soybean Oil Futures
By Nur Athirah Mohd Shaharuddin
KUALA LUMPUR, June 9 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives ended lower on Tuesday, weighed down by weakness in the Chicago Board of Trade (CBOT) soybean oil futures, a trader said.
Iceberg X Sdn Bhd proprietary trader David Ng said the recent weak export demand also dampened market sentiment.
He said palm oil exports weakened in May, with cargo surveyor AmSpec Agri Malaysia reporting exports fell 15.45 per cent to 1.14 million tonnes during May 1-31 from 1.35 million tonnes in April 1-30, 2026.
Meanwhile, Intertek Testing Services (ITS) recorded an 8.81 per cent decline to 1.28 million tonnes from 1.40 million tonnes previously.
“We see prices supported above RM4,480 per tonne and resistance at RM4,650 per tonne,” he told Bernama.
Echoing the sentiment, Fastmarkets Palm Oil Analytics managing editor and senior analyst Dr Sathia Varqa said CPO futures ended in the red, erasing the modest gains from the prior day as selling pressure came mostly from the weakness in related vegetable oils.
He also said traders are exiting their positions ahead of the crucial Malaysian Palm Oil Board (MPOB) May data due for release tomorrow.
“The market participants will also be awaiting for Malaysia’s palm oil export estimates for June 1–10, which will be released by cargo surveyors every five days in the month,” he said.
At the close, the June 2026 contract eased RM51 to RM4,454 per tonne, the July 2026 contract weakened by RM45 to RM4,494 per tonne, the August 2026 contract slipped RM47 to RM4,528 per tonne.
The September 2026 contract went down RM41 to RM4,566 per tonne, the October 2026 contract shed RM35 to RM4,603 per tonne, and the November 2026 contract narrowed by RM34 to RM4,637 per tonne.
Trading volume jumped to 92,341 lots from 51,506 lots on Monday, while open interest weakened to 287,862 contracts from 290,490 contracts previously.
Meanwhile, the physical CPO price for June South was higher by RM20 to RM4,500 per tonne.
-- BERNAMA