Kuala lumpur: Crude palm oil (CPO) futures on Bursa Malaysia Derivatives concluded the trading session on a higher note, driven by an uptick in soybean oil prices, as stated by a trader.

According to BERNAMA News Agency, David Ng, a proprietary trader at Iceberg X Sdn Bhd, highlighted that the rise in soybean oil prices was a key factor bolstering crude palm oil prices. He also mentioned that expectations of weaker output contributed to the support for prices. Ng pointed out that the market sees price support at levels above RM4,400, with resistance identified at RM4,580.

At the market close, the June 2026 contract showed an increase of RM27, reaching RM4,430 per tonne. The July 2026 contract climbed RM30 to RM4,463 per tonne, while the August 2026 contract advanced RM28 to RM4,486 per tonne. The September 2026 contract was up by RM22, closing at RM4,502 per tonne. The October 2026 contract rose RM18 to RM4,525 per tonne, and the November 2026 contract saw a RM15 increase to RM4,552 per tonne.

The trading volume witnessed a decline, falling to 76,909 lots from the previous day's 164,363 lots. Open interest also eased slightly to 280,499 contracts compared to 283,022 contracts previously. Meanwhile, the physical CPO price for May South saw an increment of RM30, bringing it to RM4,500 per tonne.