CPO Futures End Lower On Weaker Crude, Soybean Oil Prices
KUALA LUMPUR, June 24 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower today, dragged by weaker crude oil and soybean oil prices.
Palm oil trader David Ng said the reduction in prices was primarily driven by easing geopolitical tensions in the Middle East.
'CPO prices plunged below the RM4,000 level as easing tensions in the Middle East weighed on market sentiment.
'We see support at RM3,900 per tonne and resistance at RM4,150,' he told Bernama.
Fastmarkets Palm Oil Analytics senior analyst Sathia Varqa said CPO futures traded sharply lower, with the most-active September contract falling to a seven-day low.
'The decline was driven by external pressure from weaker crude oil prices, a stronger ringgit and losses in related vegetable oil futures,' he said.
At the close, the spot-month July contract fell RM124 to RM3,963 per tonne, while August 2025 declined RM137 to RM3,982 per tonne and September 2025 dropped RM143 to RM3,983 per tonne.
October 2025 slipped RM145 to RM3,980 per tonne, November 2025 eased RM144 to RM3,984 per tonne and December 2025 decreased RM145 to RM3,996 per tonne.
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