CPO Futures End Higher On Stronger Soybean Oil Prices
KUALA LUMPUR, May 23 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed higher on Friday, supported by stronger soybean oil prices, said palm oil trader David Ng.
However, he noted that gains were limited by concerns over rising production in the coming weeks, which could increase the country's overall stock level.
'We see support at RM3,750 per tonne and resistance at RM3,900 per tonne,' he told Bernama.
At the close, the new spot month June 2025 contract rose RM2 to RM3,824 per tonne, July 2025 increased RM3 to RM3,836 per tonne, and August 2025 went up RM7 to RM3,827 per tonne.
September 2025 advanced RM12 to RM3,821 per tonne, October 2025 gained RM21 to RM3,824 per tonne, and November 2025 rose RM22 to RM3,831 per tonne.
Trading volume declined to 54,070 lots from 66,842 previously, while open interest fell to 244,075 contracts from 247,462 contracts.
The physical CPO price for June South slipped by RM10 to RM3,880 per tonne.
-- BERNAMA
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