Kuala Lumpur: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives concluded the trading session on a downward trend, aligning with the weaker performance of soybean oil on the Chicago Board of Trade (CBOT), stated palm oil trader David Ng. He highlighted that market sentiment was further impacted by anticipations of reduced demand in the upcoming weeks.

According to BERNAMA News Agency, David Ng remarked, “We expect the CPO price to find support at RM4,280 per tonne and resistance at RM4,500 per tonne.” At market close, the March 2025 contract saw a reduction of RM82, settling at RM4,600 per tonne, while the April 2025 contract decreased by RM129 to RM4,456 per tonne. The May 2025 contract experienced a fall of RM135, ending at RM4,349 per tonne.

In addition, the June 2025 contract declined by RM131 to RM4,251 per tonne. The July 2025 contract saw a decrease of RM119, finishing at RM4,171 per tonne, and the August 2025 contract slipped by RM107, closing at RM4,124 per tonne. The trading volume showed an increase, rising to 91,888 lots from the previous day’s 50,914 lots, while open interest fell to 238,082 contracts compared to 241,061 contracts previously.

The physical CPO price for March South also saw a decline, dropping RM100 to RM4,700 per tonne.