CPO Futures Close Higher, Tracking Firmer Soybean Oil

By Danni Haizal Danial Donald

KUALA LUMPUR, Nov 18 (Bernama) -- Crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended higher on Tuesday, tracking stronger soybean oil performance on the Chicago Board of Trade (CBOT), said a trader.

Palm oil trader David Ng said the higher quota for renewable fuel standards has lifted sentiment in the soybean oil market.

“Hence, we see prices supported above RM4,150 per tonne and resistance at RM4,280 per tonne,” he told Bernama.

Meanwhile, Mumbai-based Sunvin Group commodity research head Anilkumar Bagani said CBOT soybean oil futures rose following a rally in soybean oils amidst China buying around 14 United States soybean cargoes.

“The rally in soybean oil helped to improve the soybean prices at the South American origins despite the steep discounts, and directly supported palm oil,” he said.

Anilkumar noted that the weaker ringgit added support to the positive market sentiment today, as the ringgit eased to 4.1605/1660 versus the US dollar from Monday’s close of 4.1480/1515.

Meanwhile, at the close, the December 2025, February 2026 and March 2026 contracts all rose by RM58 to RM4,176, RM4,209 and RM4,213 per tonne, respectively.

January 2026 gained RM60 to RM4,201 per tonne, April 2026 increased RM62 to RM4,217 per tonne, and May 2026 advanced RM57 to RM4,209 per tonne.

Total volume dipped to 99,940 lots from 106,354 lots on Monday, while open interest decreased to 270,652 contracts from 271,451 contracts previously.

The physical CPO price for December South climbed RM70 to RM4,200 per tonne.

-- BERNAMA