Kuala lumpur: Crude palm oil (CPO) futures on Bursa Malaysia Derivatives ended slightly higher on Wednesday, driven by gains in Chicago Board of Trade (CBOT) soybean oil prices, a trader revealed.

According to BERNAMA News Agency, Iceberg X Sdn Bhd proprietary trader David Ng attributed the rise in CPO prices to the strengthening of soybean oil prices, as both oils are significant players in the global edible oils market. The market was also buoyed by stronger crude oil prices, with Brent crude advancing 0.6 percent to US$95.36 per barrel at the time of reporting.

Ng mentioned that price support could be found at RM4,400 per tonne, with resistance at RM4,550 per tonne. At the market close, the April contract held steady at RM4,359 per tonne. Meanwhile, the contracts for May, June, and July 2026 each saw an increase of RM6, reaching RM4,426, RM4,472, and RM4,497 per tonne, respectively. The August 2026 contract rose RM5 to RM4,494 per tonne, and the September 2026 contract edged up RM2 to RM4,481 per tonne.

The trading volume saw a decrease, falling to 84,427 lots from 107,900 lots on Tuesday. However, open interest slightly increased to 264,763 contracts from a previous 264,587 contracts. The physical CPO price for April South also improved by RM30 to reach RM4,490 per tonne.