# Palm falls more than 4pc tracking weak US soyoil - Markets - Business Recorder

> Malaysian palm oil futures for September delivery closed 4.1% lower at 3,398 ringgit a tonne after sharp gains the previous session. The drop followed a fall in CBOT soyoil, which slipped 2.4%, on an improved weather outlook for the US Midwest crop belt. Dalian soyoil and palm contracts also declined.

- Date: 2021-06-16 · published 2021-06-16T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/10805-palm-falls-more-than-4pc-tracking-weak-us-soyoil-markets-business-recorder
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

A better US Midwest weather outlook lowers the risk premium on soybean oil, and palm oil follows as a substitute vegetable oil. Expect continued downward pressure on vegetable oil prices unless the weather outlook deteriorates.

## Read by commodity

- SBO: bearish ▼
- PALMOIL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBO | 2021-06-16 | 5 | -11.4% | -4.5 | Soyoil slipped 2.4% on an improved Midwest weather outlook, with weaker palm and Dalian oils adding to the pressure. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2024-07-31 | [Falling soybean oil prices weigh on other vegetable oil markets](https://feedsoft.ai/events/29357-falling-soybean-oil-prices-weigh-on-other-vegetable-oil-markets.md) | -1.9% | +1.5% |
| PALMOIL | 2016-12-29 | [Palm oil meeting in Bali to focus on weather \| The ASEAN Post](https://feedsoft.ai/events/73573-palm-oil-meeting-in-bali-to-focus-on-weather-the-asean-post.md) | -1.2% | -0.1% |
| PALMOIL | 2017-05-21 | [Palm oil production to rise in Indonesia - Oxford Business Group](https://feedsoft.ai/events/71097-palm-oil-production-to-rise-in-indonesia-oxford-business-group.md) | -0.3% | -3.9% |
| PALMOIL | 2022-06-14 | [Turner's Take Ag Marketing \| CBOT Breaks on Better Weather](https://feedsoft.ai/events/7216-turner-s-take-ag-marketing-cbot-breaks-on-better-weather.md) | -5.1% | -33.6% |
| PALMOIL | 2018-10-09 | [Palm oil firms face challenges on weak prices, sustainability, says Fitch Solutions \| The Star](https://feedsoft.ai/events/62639-palm-oil-firms-face-challenges-on-weak-prices-sustainability-says-fitch.md) | +0.0% | -3.4% |
| SBO | 2020-07-23 | [Palm oil tracks soyoil fall, wet weather stokes supply concerns - Markets - Business Recorder](https://feedsoft.ai/events/52203-palm-oil-tracks-soyoil-fall-wet-weather-stokes-supply-concerns-markets-business.md) | -0.9% | +5.8% |
| SBO | 2021-01-20 | [CBOT soyabean futures fall - Markets - Business Recorder](https://feedsoft.ai/events/9540-cbot-soyabean-futures-fall-markets-business-recorder.md) | +3.0% | +11.5% |
| SBO | 2021-08-10 | [US corn and soybean futures decline - Markets - Business Recorder](https://feedsoft.ai/events/12610-us-corn-and-soybean-futures-decline-markets-business-recorder.md) | -1.6% | -10.0% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40100546
- brecorder.com: https://www.brecorder.com/news/40100606

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.