By Fatin Umairah Abdul Hamid and K Naveen Prabu
KUALA LUMPUR, June 18 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended higher on Wednesday, supported by stronger soybean oil prices on the Chicago Board of Trade (CBOT), said palm oil trader David Ng.
He said the soybean oil price surge was driven mainly by higher biofuel blending mandates in the United States.
“We see support at RM4,000 per tonne and resistance at RM4,150,” he told Bernama.
At the close, the spot-month June contract rose by RM21 to RM4,085 per tonne, July 2025 gained RM27 to RM4,099 per tonne, and August 2025 climbed RM36 to RM4,100 per tonne.
September 2025 advanced RM42 to RM4,093 per tonne, October 2025 increased RM42 to RM4,089 per tonne, and November 2025 added RM40 to RM4,090 per tonne.
Trading volume dropped to 67,036 lots from 110,158 on Tuesday, while open interest slipped to 233,309 contracts from 235,561 previously.
The physical CPO price for June South rose RM20 to RM4,100 per tonne.
-- BERNAMA
BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial
