KUALA LUMPUR, Crude palm oil (CPO) futures on Bursa Malaysia Derivatives ended mostly lower on Thursday, tracking weaker soybean oil prices, a dealer said.
Palm oil trader David Ng noted that lower crude oil prices also influenced market sentiment.
‘We see support at RM3,790 and resistance at RM3,950,’ he told Bernama.
At the close, the spot month September 2024 contract surged RM53 to RM4,020 per tonne, while nearby October 2024 was RM28 lower to RM3,935, and benchmark November 2024 fell by RM49 to RM3,852.
December 2024 and January 2025 fell by RM47 each to RM3,810 and RM3,857 per tonne, respectively, and February 2025 dropped by RM46 to RM3,776.
Volume was up to 83,404 lots from 82,367 on Wednesday, while open interest increased to 247,627 contracts compared with 242,259 previously.
The physical CPO price for September South was marginally lower, falling RM10 to RM4,030 per tonne.
Source: BERNAMA News Agency
