CPO Futures Rise For Second Straight Day On Stronger Soybean Oil

By Muhammad Fawwaz Thaqif Nor Afandi

KUALA LUMPUR, July 14 (Bernama) -- Crude palm oil (CPO) futures on Bursa Malaysia Derivatives extended their gains on Tuesday, tracking stronger soybean oil prices on the Chicago Board of Trade (CBOT).

Iceberg X Sdn Bhd proprietary trader David Ng said that firmer crude oil prices also underpinned palm oil futures. 

“The rise in soybean oil prices supported CPO as both are key vegetable oils competing in the global edible oils market, while higher crude oil prices boosted palm oil prices by improving its appeal as a biofuel feedstock,” he told Bernama.

At the time of writing, Brent crude rose 4.72 per cent to US$87.23 per barrel.

The trader added that Indonesia’s implementation of the B50 biodiesel mandate further lifted market sentiment.

“We see prices supported above RM4,500 and resistance at RM4,680,” he said.

Meanwhile, Fastmarkets Palm Oil Analytics managing editor and senior analyst Dr Sathia Varqa said CPO futures rose for a second consecutive session, extending the mild bargain-buying seen the previous trading day.

At the close, the spot month July 2026 contract increased RM13 to RM4,485 per tonne, August 2026 rose by RM23 to RM4,516, and the September 2026 contract gained by RM17 to RM4,550 per tonne.

The October 2026 contract added RM7 to RM4,573 per tonne, while the November 2026 contract rose RM1 to RM4,602 per tonne, and the December 2026 contract gained RM8 to RM4,641 per tonne.

The trading volume increased to 108,836 lots from 54,241 lots on Monday, while open interest rose to 286,418 contracts from 283,758 contracts previously.

The physical CPO price for July South was up by RM40 to RM4,520 per tonne.

-- BERNAMA