By Nur Athirah Mohd Shaharuddin
KUALA LUMPUR, Oct 31 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower today on expectation of higher demand for soybean oil, a dealer said.
In a note today, CGS International Futures Malaysia Sdn Bhd said China has agreed to buy tremendous amounts of American soybeans following the trade talks between China and the United States.
“China has agreed to buy 12 million metric tonnes of soybeans this year, providing some relief to US farmers who have anxiously awaited the resumption of exports to the Asian nation.
“For the next three years, China has agreed to buy a minimum of 25 million tonnes annually for the next three years,” according to a report.
At the close, the spot-month November 2025 contract fell RM32 to RM4,185 a tonne and the December 2025 contract lost RM47 to RM4,193 a tonne, while the January 2026 and February 2026 contracts declined RM53 each to RM4,207 and RM4,222 a tonne, respectively.
The March 2026 and April 2026 contracts dropped RM52 each to RM4,228 a tonne and RM4,220 a tonne, respectively.
Total volume rose to 93,756 lots from 82,258 lots on Thursday, while open interest edged up to 264,770 contracts from 264,546 contracts previously.
On the physical market, November South was up by RM20 at RM4,240 a tonne.
-- BERNAMA
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