Kuala lumpur: Crude palm oil (CPO) futures on Bursa Malaysia Derivatives are anticipated to trade lower in the coming week as investors are likely to engage in profit-taking following a recent rally, despite crude oil prices maintaining high levels.

According to BERNAMA News Agency, Interband Group of Companies senior palm oil trader Jim Teh noted that CPO futures had surged to approximately RM4,700 per tonne, in line with crude oil prices reaching about US$100 per barrel, which led to speculative buying. However, Teh predicts that syndicate speculators will secure their profits next week, characterizing the market as a 'yo-yo' market. He forecasts that the trading range will fluctuate between RM4,400 and RM4,500 per tonne.

Teh further explained that while physical demand from key importing countries such as China, India, Pakistan, the Middle East, the European Union, and the United States would continue to underpin the market, the substantial palm oil inventories in Malaysia and Indonesia are expected to limit additional gains.

On a Friday-to-Friday comparison, the August 2026 contract increased by RM62 to RM4,591 per tonne, with the September 2026 contract adding RM112 to RM4,677 per tonne, and the October 2026 contract climbing RM125 to RM4,722 per tonne. Additionally, the November 2026 contract advanced RM123 to RM4,753 per tonne, December 2026 rose by RM116 to RM4,779 per tonne, and January 2027 improved by RM103 to RM4,800 per tonne.

The weekly trading volume expanded to 503,068 lots from 402,028 lots in the previous week, and open interest grew to 306,540 contracts on Friday, up from 286,716 contracts earlier. Meanwhile, the physical CPO price for August South increased by RM70 to RM4,610 per tonne.