CPO Futures End Lower Amid Weaker Soybean Futures, Lower Crude Oil Prices
By Zufazlin Baharuddin
KUALA LUMPUR, Oct 18 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives ended lower for the second consecutive day on Friday, in line with the Chicago Board of Trade soybean oil futures.
Palm oil trader David Ng told Bernama that the lower crude oil prices also negatively affected the sentiment for the golden crop.
“We see support at RM4,200 per tonne and resistance at RM4,350 per tonne,” he said.
At today’s close, spot month November 2024 decreased by RM24 to RM4,318 per tonne, December 2024 fell by RM25 to RM4,274 per tonne, and January 2025 slid by RM23 to RM4,255 per tonne.
Meanwhile, February 2025 declined by RM20 to RM4,223 per tonne, March 2025 lost RM18 to RM4,189 per tonne, and April 2025 reduced by RM15 to RM4,152 per tonne.
Trading volume expanded to 104,397 lots from 100,646 lots yesterday, while open interest shrank to 258,075 contracts from 261,981 previously.
The physical CPO price for October South was unchanged at RM4,380 per tonne.
-- BERNAMA