CPO FUTURES TO REMAIN SLIGHTLY BULLISH NEXT WEEK ON WEATHER CONCERNS

By Nur Athirah Mohd Shaharuddin

KUALA LUMPUR, Nov 29 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to remain slightly bullish next week due to weather-related factors, a trader said.

Palm oil trader David Ng said recent flood conditions in several parts of Malaysia could reduce production, raising concerns over supply and supporting prices.

“Recent strength in the soybean oil market could also lend support to the palm oil market next week,” he told Bernama.

Meanwhile, Interband Group of Companies senior palm oil trader Jim Teh said the market next week is expected to remain volatile, describing it as a “yo-yo market”, as China is currently purchasing soybean from the United States (US).

He said the trading range is expected to hover between RM3,800 and RM3,900 per tonne, which would help clear the high physical stocks recorded in October.

“With these kinds of prices, we attract more buyers. Physical demand will come from India, Pakistan, the European Union, the Middle East, the US and China,” he said.

Compared with last week’s Friday, this week’s Thursday session saw the December 2025 contract remain unchanged at RM4,050 per tonne, the January 2026 contract climb RM18 to RM4,081 per tonne, and the February 2026 contract advance RM21 to RM4,090 per tonne.

March 2026 rose RM25 to RM4,103 per tonne, April 2026 increased RM24 to RM4,106 per tonne, while the May 2026 contract improved RM17 to RM4,101 per tonne.

Weekly trading volume declined to 319,379 lots from 481,674 lots last week, while open interest eased to 282,153 contracts from 287,400 contracts previously.

The physical CPO price for December South stood at RM4,100 per tonne.

Earlier, trading on Bursa Malaysia’s derivatives market was halted at 10.36 am due to a Globex system outage.

The exchange said all derivatives products traded on Globex, the Chicago Mercantile Exchange (CME) Group’s electronic platform for global derivatives trading, were affected. Bursa Malaysia said it would notify stakeholders once the issue is resolved.

-- BERNAMA