CPO Futures Close Higher On Gains In CBOT Soybean Oil Prices

By Muhammad Fawwaz Thaqif Nor Afandi

KUALA LUMPUR, June 22 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed higher on Monday tracking gains in Chicago Board of Trade (CBOT) soybean oil prices, a trader said.

Iceberg X Sdn Bhd proprietary trader David Ng said the rise in soybean oil prices supported CPO as both are key vegetable oils competing in the global edible oils market.

Market sentiment was also supported by expectations of stronger export numbers in the coming weeks.

"We see prices supported above RM4,600 and resistance at RM4,750," he told Bernama.

At the close, the July 2026 contract gained RM16 to RM4,610 per tonne, the August 2026 contract rose RM19 to RM4,641 per tonne and the September 2026 contract advanced RM26 to RM4,672 per tonne.

The October 2026 contract added RM33 to RM4,701 per tonne, the November 2026 contract climbed RM40 to RM4,729 per tonne and the December 2026 contract increased RM44 to RM4,754 per tonne.

Trading volume declined to 70,111 lots from 76,763 lots last Friday, while open interest inched up to 287,720 contracts from 287,112 previously.

The physical CPO price for June South rose by RM70 to RM4,630 per tonne.