InfoSAWIT, KUALA LUMPUR — Malaysia’s CPO futures closed mixed on Friday (14/11) as traders adopted a cautious stance despite a stronger rally in global soybean oil markets.
Soybean oil, a key competitor and price driver for palm oil, strengthened on the Chicago Board of Trade (CBOT). In China, Dalian’s No. 1 soybean oil contract for January 2026 surged by 93 yuan, closing at 4,215 yuan per ton. While the global vegetable oil complex showed bullish signals, palm oil traders remained guarded.
CPO analyst and trader David Ng said concerns over palm oil production continue to overshadow market sentiment. “We see support at RM4,100 per ton and resistance at RM4,200 per ton,” he told InfoSAWIT, citing a report from Bernama.
At the close, the November 2025 spot contract settled at RM3,935 per ton. December 2025 futures rose RM13 to RM4,100, while January 2026 inched up RM3 to RM4,128.
Contracts for later months, however, slipped:
February 2026: down RM8 to RM4,145
March 2026: down RM13 to RM4,159
April 2026: down RM14 to RM4,167
Market activity also cooled, with trading volume dropping to 92,204 lots from 106,879 previously. Nonetheless, open interest climbed to 269,476 contracts, indicating traders are still holding sizable positions.
In the physical market, southern region CPO prices for November stood unchanged at RM4,080 per ton.
Market observers are now awaiting fresh indicators on production levels and movements in global vegetable oil prices to determine near-term direction. (T2)
