CPO Futures End Higher Amid Soybean Oil Price Surge
KUALA LUMPUR, The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended higher on Thursday due to increased soybean oil prices, said palm oil trader David Ng. However, Ng noted that gains were limited by concerns over rising output in the coming weeks. ‘We see support at RM3,600 and resistance at RM3,880 a tonne,’ he told Bernama. Meanwhile, Mumbai-based Sunvin Group commodity research head Anilkumar Bagani said the market ended higher today following a strong recovery in the soy oil and rapeseed oil markets overnight on Wednesday. He added that a bullish rebound in Chinese vegetable oil futures