CPO Futures End Lower On Weaker Soybean Oil Prices
By Durratul Ain Ahmad Fuad
KUALA LUMPUR, April 15 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives (BMD) ended lower for the second straight day today, tracking weakness in soybean oil futures on both the Chicago Board of Trade (CBOT) and the Dalian Commodity Exchange.
Palm oil trader David Ng said that expectations of rising output in the coming weeks also weighed on price sentiment.
“Therefore, we see support at RM4,000 per tonne and resistance at RM4,300 per tonne,” he told Bernama.
At the close, the April 2025 contract declined RM34 to RM4,320 per tonne, May 2025 decreased RM63 to RM4,230 per tonne, June 2025 and September 2025 dipped RM62 each to RM4,108 per tonne and RM3,986 per tonne respectively, while July 2025 and August 2025 slid RM64 each to RM4,043 per tonne and RM4,008 per tonne, respectively.
Trading volume surged to 104,470 lots from 80,065 lots yesterday, while open interest increased to 247,195 contracts from 244,009 contracts previously.
The physical CPO price for April South fell RM120 to RM4,400 per tonne.
-- BERNAMA