Kuala Lumpur: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives (BMD) ended lower for the second consecutive day today, tracking weakness in soybean oil futures on both the Chicago Board of Trade (CBOT) and the Dalian Commodity Exchange.

According to BERNAMA News Agency, palm oil trader David Ng mentioned that expectations of rising output in the coming weeks also weighed on price sentiment. He noted, “Therefore, we see support at RM4,000 per tonne and resistance at RM4,300 per tonne.”

At the close, the April 2025 contract declined RM34 to RM4,320 per tonne, while the May 2025 contract decreased RM63 to RM4,230 per tonne. The June 2025 and September 2025 contracts dipped RM62 each to RM4,108 per tonne and RM3,986 per tonne, respectively. Additionally, the July 2025 and August 2025 contracts slid RM64 each to RM4,043 per tonne and RM4,008 per tonne, respectively.

Trading volume surged to 104,470 lots from 80,065 lots the previous day, and open interest increased to 247,195 contracts from 244,009 contracts previously. The physical CPO price for April South fell RM120 to RM4,400 per tonne.