By Fatin Umairah Abdul Hamid
KUALA LUMPUR, May 14 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed higher on Wednesday, extending its gains by tracking the uptrend in the soybean oil market, said palm oil trader David Ng.
He said the stronger soybean oil prices are supported by positive sentiment surrounding United States (US)-China trade relations, which have helped lift sentiment in the CPO market.
“We see support at RM3,7850 per tonne and resistance at RM3,950 per tonne,” he told Bernama.
At the close, May 2025 rose RM73 to RM3,900 per tonne, June 2025 increased RM32 to RM3,927 per tonne, July 2025 went up RM30 to RM3,923 per tonne, August 2025 advanced RM20 to RM3,915 per tonne, September 2025 gained RM10 to RM3,906 per tonne, and October 2025 added RM1 to RM3,900 per tonne.
Trading volume increased to 121,576 lots from 86,227 lots yesterday, while open interest rose to 242,608 contracts from 244,857 contracts previously.
The physical CPO price for May South rose RM80 to RM3,980 per tonne.
-- BERNAMA
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