By Durratul Ain Ahmad Fuad
KUALA LUMPUR, June 5 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended lower today due to concerns over rising production, according to palm oil trader David Ng.
He said weaker soybean oil prices on the Chicago Board of Trade during Asian trading hours also weighed on market sentiment.
“The rising production is mainly due to seasonality. We see prices supported at RM3,800 per tonne and resistance at RM4,000 per tonne,” he told Bernama.
At the close, the spot-month June 2025 and July 2025 contracts dropped RM42 each to RM3,904 per tonne and RM3,923 per tonne, respectively.
August 2025 fell RM45 to RM3,903 per tonne, September 2025 and October 2025 declined RM47 each to RM3,890 per tonne and RM3,886 per tonne respectively, and November 2025 reduced RM40 to RM3,891 per tonne.
Trading volume improved to 64,761 lots from 59,422 lots yesterday, while open interest edged up to 245,562 contracts from 245,345 contracts previously.
The physical CPO price for June South decreased by RM50 to RM3,950 per tonne.
-- BERNAMA
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