CPO Futures Close Higher Supported By CBOT Soybean Oil Price Gains

By Muhammad Fawwaz Thaqif Nor Afandi

KUALA LUMPUR, Feb 27 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed higher on Friday, supported by gains in soybean oil prices on the Chicago Board of Trade (CBOT).

Iceberg X Sdn Bhd proprietary trader David Ng said the rising tension between the United States and Iran, which pushes crude oil sentiment higher, is also driving soybean oil to trade higher.

At the time of writing, Brent crude oil price rose 2.33 per cent to US$72.40 per barrel.

“We see CPO prices supported above RM4,000 per tonne, with resistance at RM4,180,” he told Bernama.

Echoing Ng, Mumbai-based Sunvin Group commodity research head Anilkumar Bagani said that although CBOT soybean oil futures drove the higher CPO futures, the gains were capped by weakness in other regional edible oil markets.

He said the Refined, Bleached and Deodorised (RBD) palm olein on the Dalian Commodity Exchange (DCE) and rapeseed oil on the Zhengzhou Commodity Exchange (ZCE) declined during Asian trading hours, limiting the upside momentum.

At the close, the March 2026 and April 2026 contracts gained RM34 to RM3,989 per tonne and RM4,030 per tonne, respectively, while May 2026 edged up RM37 to RM4,042 per tonne.

The June 2026 contract strengthened by RM40 to RM4,046 per tonne, while July 2026 and August 2026 also improved by RM40 to RM4,043 per tonne and RM4,038 per tonne, respectively.

Trading volume increased to 63,409 lots from 61,228 on Thursday, while open interest increased slightly to 227,706 contracts from 227,240 previously.

The physical CPO price for March South went up by RM30 to RM4,050 per tonne.

-- BERNAMA