CPO Futures End Lower, Tracking Softer Soybean Oil Market

By Engku Shariful Azni Engku Ab Latif

KUALA LUMPUR, May 6 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed lower on Wednesday, tracking softer soybean oil prices on Chicago Board of Trade (CBOT) on Tuesday, a trader said.

Palm oil and soybean prices always move in tandem as both commodities compete for the same market.

Meanwhile, Iceberg X Sdn Bhd proprietary trader David Ng said the market continued to trade cautiously amid uncertainties surrounding the US-Iran conflict.

“We see price supported above RM4,500 a tonne and resistance at RM4,680 a tonne,” he told Bernama.

At the close, the May 2026 contract decreased RM115 to RM4,527 per tonne, June 2026 fell by RM134 to RM4,547 and July 2026 dropped RM131 to RM4,579 per tonne.

The August 2026 and September 2026 contracts dipped RM129 each to RM4,592 and RM4,593 per tonne, respectively, while October 2026 declined RM128 to RM4,592 per tonne.

Trading volume advanced to 113,819 lots from 91,276 lots on Tuesday, while open interest rose to 281,781 contracts from 273,309 contracts previously.

The physical CPO price for May South slipped RM60 to RM4,590 per tonne.

-- BERNAMA