CPO Futures End Lower On Weaker Soybean Oil Prices

By Durratul Ain Ahmad Fuad

KUALA LUMPUR, June 4 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives ended lower on Thursday, pressured by weaker soybean oil prices and softer export performance, a trader said.

Iceberg X Sdn Bhd proprietary trader David Ng said the latest export figures pointed to lower demand for Malaysian palm oil, which also weighed on market sentiment.

He said Malaysia’s palm oil exports for the May 1-31 period were estimated by Intertek Testing Services (ITS) at 1.28 million tonnes, down by 8.81 per cent and by AmSpec at 1.14 million tonnes, down by 15.45 per cent from their respective export estimates for the April 1-30 period.

“We expect support at RM4,500 per tonne and resistance at RM4,700 per tonne,” he told Bernama. 

At the close, the June 2026 contract eased RM74 to RM4,531 per tonne, the July 2026 CPO contract weakened by RM72 to RM4,566 per tonne, the August 2026 and the September 2026 contracts went down RM76 each to RM4,601 per tonne and RM4,629 per tonne, the October 2026 contract slipped RM77 to RM4,657 per tonne and the November 2026 contract shed RM75 to RM4,686 per tonne.

Trading volume declined to 95,888 lots from 104,077 lots on Wednesday, while open interest rose to 298,582 contracts from 289,868 contracts previously.

Meanwhile, the physical CPO price for June South lost RM90 to RM4,550 per tonne.

-- BERNAMA