Kuala lumpur: Crude palm oil (CPO) futures on Bursa Malaysia Derivatives are projected to trade within the RM4,200 to RM4,300 range in the upcoming week, driven by expected profit-taking activities and mixed signals regarding supply and demand, according to an industry trader.

According to BERNAMA News Agency, Jim Teh, a senior palm oil trader with Interband Group of Companies, noted that the recent dip in crude oil prices to approximately US$71 per barrel may lead speculative traders to capitalize on profits in the CPO market next week. Despite the weakening crude oil market, energy-related factors are likely to sustain CPO prices within the RM4,200 to RM4,300 range, which are considered favorable prices.

David Ng, a proprietary trader with Iceberg X Sdn Bhd, indicated that CPO futures could exhibit a bearish tendency next week due to continuous concerns about rising production levels in the near future. Ng predicts that the futures market will fluctuate between RM4,400 and RM4,550 next week.

From a Friday-to-Friday perspective, the July 2026 contract witnessed a decline of RM65, settling at RM4,439 per tonne. Meanwhile, the August 2026 contract decreased by RM81 to RM4,458 per tonne, and the September 2026 contract dropped by RM88, reaching RM4,480 per tonne. The October 2026 contract fell by RM86 to RM4,505 per tonne, with the November 2026 contract slipping RM78 to RM4,533 per tonne. The December 2026 contract saw a decrease of RM72, closing at RM4,559 per tonne.

The weekly trading volume experienced a reduction, totaling 314,563 lots compared to 330,455 lots in the previous week, while open interest slightly increased to 289,382 contracts from the previous 287,112. The physical CPO price for July South contracted by RM60, closing at RM4,470 per tonne.