By Muhammad Fawwaz Thaqif Nor Afandi
KUALA LUMPUR, Feb 25 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed lower on Wednesday, weighed down by weaker soybean oil prices on the Chicago Board of Trade (CBOT) following profit-taking activities after a recent sharp rally, a trader said.
Iceberg X Sdn Bhd proprietary trader David Ng said the decline in CBOT soybean oil prices exerted pressure on palm oil futures as traders locked in gains after the strong upswing in the soybean oil market.
“However, the recent sluggish production pace indicated by plantation surveys may support sentiment in the near term.
"We see CPO prices supported above RM4,000 per tonne, with resistance at RM4,150," he told Bernama.
At the close, the March 2026 contract gained RM1 to RM4,018 per tonne, April 2026 edged down RM2 to RM4,046 per tonne, and May 2026 remained unchanged at RM4,053 per tonne.
The June 2026 contract dropped RM1 to RM4,053 per tonne, July 2026 contracted RM4 to RM4,048 per tonne, and August 2026 lost RM8 to RM4,041 per tonne.
Trading volume slipped to 59,677 lots from 67,160 on Tuesday, while open interest declined to 221,625 contracts from 223,235 previously.
The physical CPO price for March South eased RM10 to RM4,060 per tonne.
-- BERNAMA
BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial
