PALMOILMAGAZINE, KUALA LUMPUR – Malaysian crude palm oil (CPO) futures closed higher on Wednesday (28 January 2026), tracking gains in global soybean oil markets and drawing additional support from stronger crude oil prices. According to a report by Bernama, market participants said movements in the crude oil market have provided an important boost to palm oil, particularly as energy and biofuel prospects continue to improve. David Ng, a proprietary trader at Iceberg X Sdn Bhd, noted that palm oil prices remain in a relatively solid technical range. Overall, palm oil prices continue to draw support from global vegetable oil and energy markets. However, further direction is expected to be heavily influenced by currency movements, soybean oil trends, and developments in crude oil prices.