CPO Futures End Higher On Strong CBOT Soybean Oil

By Nur Athirah Mohd Shaharuddin

KUALA LUMPUR, Feb 14 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed higher on Friday, supported by the stronger performance of soybean oil on the Chicago Board of Trade (CBOT), a dealer said.

Palm oil trader David Ng said the positive progress on Indonesia’s biodiesel programme also lifted market sentiment.

“So far, we have seen good progress in the uptake of Indonesia’s biodiesel programme, which means a higher consumption of palm oil, positively impacting palm oil prices.

“We expect the CPO price to find support at RM4,550 per tonne and resistance at RM4,750 per tonne,” he told Bernama.

At the close, the February 2025 contract declined RM43 to RM4,725 per tonne, March 2025 rose RM34 to RM4,700 per tonne, and April 2025 climbed RM38 to RM4,592 per tonne.

May 2025 increased RM42 to RM4,499 per tonne, June 2025 gained RM44 to RM4,404 per tonne, and July 2025 added RM40 to RM4,321 per tonne.

Trading volume grew to 107,707 lots from 97,142 lots yesterday, while open interest widened to 230,867 contracts from 227,425 previously.

The physical CPO price for February South eased RM50 to RM4,800 per tonne.

-- BERNAMA