CPO futures end marginally higher following gains in CBOT

KUALA LUMPUR, The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended marginally higher tracking gains in the Chicago Board of Trade’s (CBOT) soybean oil market.

Palm oil trader David Ng told Bernama today the recent plunge in prices may have attracted some buying interest.

“However, upside in prices is being weighed down by the expectation of weaker exports in coming weeks,” he said.

At the close, the CPO futures contract for September 2021 gained RM9 to RM4,514 per tonne, October 2021 rose RM15 to RM4,371 per tonne, November 2021 added RM27 to RM4,265 per tonne, December 2021 improved RM29 to RM4,193 per tonne, January 2022 increased RM29 to RM4,139 per tonne and February 2022 was RM18 higher to RM4,091 per tonne.

Total volume declined to 64,074 lots from yesterday’s 89,353 lots, while open interest was down to 263,451 contracts from 284,560 contracts previously.

The physical CPO price for September South remained unchanged at RM4,600 per tonne.

Source: BERNAMA News Agency