Kuala lumpur: Crude palm oil (CPO) futures on Bursa Malaysia Derivatives saw a decline today, influenced by a weaker soybean oil price, according to a trader.

According to BERNAMA News Agency, Iceberg X Sdn Bhd proprietary trader David Ng indicated that the drop in soybean oil price is putting pressure on palm oil, as both commodities vie for dominance in the global edible oil market. Ng mentioned that CPO prices are finding support above RM4,500, with resistance noted at RM4,680 per tonne.

At the market's close, the April 2026 contract decreased by RM77 to RM4,503 per tonne. Similarly, the May 2026 contract fell by RM77 to RM4,542 per tonne, and the June 2026 contract slipped by RM74 to RM4,537 per tonne. The July 2026 contract saw a reduction of RM68 to RM4,512 per tonne, while August 2026 eased by RM60 to RM4,482 per tonne, and September 2026 slid by RM53 to RM4,451 per tonne.

The trading volume reported a decrease to 65,523 lots from last Thursday's 136,763, and open interest declined to 233,457 contracts from the previous 237,306 contracts. Furthermore, the physical CPO price for April South dropped by RM60 to RM4,540 per tonne.