By Fatin Umairah Abdul Hamid
KUALA LUMPUR, May 16 (Bernama) -- The crude palm oil (CPO) futures closed lower on Friday, tracking weakness in the soyabean oil market, said palm oil trader David Ng.
Ng said the soyabean oil market was affected by expectations of a lower biodiesel mandate for 2026.
This weakness weighed on palm oil sentiment today, he added.
“We see support at RM3,700 per tonne and resistance at RM3,900 per tonne,” he told Bernama.
At the close, the new spot month of June 2025 decreased RM33 to RM3,839 per tonne, July 2025 was RM40 lower at RM3,828 per tonne, and August 2025 fell RM41 to RM3,815 per tonne.
September 2025 declined RM44 to RM3,808 per tonne, October 2025 slipped RM46 to RM3,809 per tonne, and November 2025 dropped RM42 to RM3,818 per tonne.
Trading volume slid to 74,573 lots from 96,117 lots yesterday, while open interest rose to 239,366 contracts from 238,933 contracts previously.
The physical CPO price for May South dropped RM20 to RM3,910 per tonne.
-- BERNAMA
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