Kuala Lampur:Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed lower on Wednesday, influenced by weaker soybean oil prices. Both CPO and soybean oil are key vegetable oils competing in the global edible oils market, and the decline in soybean oil prices exerted downward pressure on CPO futures.

According to BERNAMA News Agency, Market sentiment was further impacted by concerns over high domestic inventories, as noted by Iceberg X Sdn Bhd proprietary trader David Ng. Ng mentioned that market support is expected at RM4,500 per tonne, with resistance at RM4,650 per tonne.

In terms of specific contract performance, the October 2026 contract decreased by RM30 to RM4,310 per tonne, November 2026 slipped by RM44 to RM4,413 per tonne, and December 2026 edged down by RM36 to RM4,524 per tonne. Looking ahead, the January 2027 contract slid by RM27 to RM4,636 per tonne, February 2027 fell by RM19 to RM4,739 per tonne, and March 2027 eased by RM9 to RM4,834 per tonne.

Additionally, trading volume weakened to 70,612 lots from 92,828 on Tuesday, while open interest contracted slightly to 328,944 contracts from 329,375 previously. The physical CPO price for October South also eased by RM30 to RM4,350 per tonne.