Kuala lumpur: Crude palm oil (CPO) futures on Bursa Malaysia Derivatives ended higher on Friday, marking the fifth consecutive session of gains. These gains were supported by stronger soybean oil futures on the Chicago Board of Trade (CBOT).

According to BERNAMA News Agency, proprietary trader David Ng from Iceberg X Sdn Bhd noted that higher crude oil prices also bolstered market sentiment. He highlighted that the benchmark November 2026 CPO futures contract surpassed RM5,000 per tonne, maintaining its strong upward momentum. Ng attributed part of this upward trend to ongoing weather concerns, which are likely to continue influencing prices in the near term. He identified support at RM4,850 per tonne and resistance at RM5,100 per tonne.

Meanwhile, Anilkumar Bagani, commodity research head at Mumbai-based Sunvin Group, pointed out that CPO futures maintained their bullish rally for the week, with the benchmark November 2026 contract closing above RM5,000 per tonne. Bagani explained that the rally was fueled by strong fund buying in Dalian Commodity Exchange (DCE) refined, bleached, and deodorised (RBD) palm olein and soybean oil futures, along with purchases in physical markets. He also mentioned that strength in energy futures and related vegetable oil and oilseed markets contributed additional support.

At the market close, the September 2026 contract rose RM57 to RM4,791 per tonne, October 2026 gained RM62 to RM4,934 per tonne, and November 2026 added RM57 to RM5,018 per tonne. Additionally, the December 2026 contract advanced RM52 to RM5,077 per tonne, January 2027 climbed RM48 to RM5,118 per tonne, and February 2027 increased RM46 to RM5,141 per tonne. Trading volume decreased to 121,114 lots from 124,014 lots, while open interest expanded to 342,115 contracts from 338,827 contracts previously. The physical CPO price for September South increased by RM50 to RM4,770 per tonne.