CPO Futures End Lower, Tracking Weaker Soybean Oil Prices

By Abdul Hamid A Rahman

KUALA LUMPUR, Aug 20 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended lower today, tracking losses in soybean oil on the Chicago Board of Trade (CBOT), said palm oil trader David Ng.

He noted that palm oil prices often move in tandem with soybean oil, a close substitute in the global vegetable oils market.

“The weakness in soybean oil spilled over into CPO futures, weighing on sentiment throughout the trading session. Additionally, the recent rally in CPO futures prices may have dampened demand as buyers turn cautious about taking fresh positions,” he told Bernama.

“Stronger export figures or renewed buying interest could provide some upside momentum. However, for now, the market appears to be consolidating after recent gains,” he added.

Ng said investors are likely to monitor developments in the broader edible oils market as well as demand prospects from major importing countries, particularly India and China, in the coming days.

“We see support at RM4,450 per tonne and resistance at RM4,680 per tonne,” he added.

At the close, spot-month September 2025 and October 2025 declined RM25 each to RM4,424 and RM4,467 per tonne, respectively, and November 2025 dipped RM23 to RM4,498 per tonne.

The December 2025 contract fell RM19 to RM4,511 per tonne, while January 2026 and February 2026 shed RM18 each to RM4,509 and RM4,485 per tonne, respectively.

Volume dwindled to 69,550 lots from 95,632 lots on Tuesday, while open interest slipped to 251,695 contracts from 253,319 previously.

The physical CPO price for September South eased RM10 to RM4,460 per tonne.

-- BERNAMA