PALMOILMAGAZINE, JAKARTA – Crude palm oil (CPO) futures on the Malaysia Derivatives Exchange closed lower again, weighed down by persistent pressure from global markets. The decline was largely driven by falling soybean oil prices in the United States, particularly on the Chicago Board of Trade (CBOT), a key benchmark for the global vegetable oil trade.
According to a report by Bernama, weakness in the soybean oil market continued to cast a shadow over palm oil prices, as market participants remained cautious amid uncertainty surrounding demand prospects and price movements of competing vegetable oils.
At the close of trading, the February 2026 CPO contract slipped RM60 to RM4,160 per metric ton. The March 2026 contract recorded a steeper decline, falling RM89 to RM4,209 per ton, while the April 2026 contract dropped RM88 to settle at RM4,229 per ton.
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Price pressure extended across the forward curve. The May 2026 contract declined RM84 to RM4,228 per ton, followed by the June 2026 contract, which eased RM79 to RM4,213 per ton. Meanwhile, the July 2026 contract closed RM72 lower at RM4,194 per ton.
Trading activity softened during the session, with total volume falling to 84,668 lots, down from 97,561 lots previously. In contrast, open interest edged higher to 220,712 contracts from 218,191 contracts, signaling that market participants largely maintained their positions despite the price decline.
In the physical market, Southern Malaysia February CPO prices were reported to have fallen RM40 to RM4,200 per ton, mirroring the weakness seen in the futures market. (P3)
