CPO Futures End Higher On Stronger Dalian Palm Olein Prices, Soybean Oil Market
14/03/2025 (Bernama), Kuala Lumpur - The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed mostly higher amid firmer prices in China's Dalian palm olein and soybean oil market, said palm oil trader David Ng.
He said ongoing concerns over weak production growth in the coming weeks also lifted market sentiment.
"On a technical front, the CPO price has support at RM4,450 per tonne, with resistance at RM4,680 per tonne," Ng told Bernama.
At the close, the March 2025 contract eased by RM23 to RM4,750 per tonne, April 2025 was RM23 higher at RM4,694 per tonne, and May 2025 gained RM37 to RM4,576 per tonne.
The June 2025 contract was RM39 higher at RM4,474 per tonne, July 2025 increased by RM38 to RM4,375 per tonne, and August 2025 firmed up by RM27 to RM4,304 per tonne.
Trading volume rose to 88,944 lots from 86,679 lots on Thursday, while open interest expanded to 248,014 contracts from 247,422 contracts previously.
The physical CPO price for March South remained at RM4,850 per tonne.
-- BERNAMA