CPO Futures Extend Gains To Close Higher, Tracking Soybean Oil's Rise
KUALA LUMPUR, July 23 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives extended gains to close higher on Wednesday, on the back of stronger soybean oil prices.
Palm oil trader David Ng said lower CPO production in Indonesia also lifted market sentiment today.
"We see CPO prices supported above RM4,250 and resistance at RM4,400," he told Bernama.
At the close, the spot-month August contract gained RM48 to RM4,244 per tonne, the September 2025 contract added RM52 to RM4,298, and the October 2025 contract rose RM51 to RM4,315.
The November 2025 contract advanced RM49 to RM4,320 per tonne, December 2025 climbed RM47 to RM4,317, and January 2026 gained RM51 to RM4,313.
Trading volume rose to 75,900 lots from 75,575 on Tuesday, while open interest eased to 231,569 contracts from 231,767 previously.
The physical CPO price for July South increased by RM50 to RM4,270 per tonne.
-- BERNAMA
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