# Palm extends fall to hit over 4-month low on cheaper US soyoil - Markets - Business Recorder

> Malaysian palm oil futures for August delivery fell 5.7% to 3,454 ringgit a tonne in early trade, hitting their lowest in more than four months. CBOT soybean and soyoil prices each fell more than 2% on reports that the US may reduce biodiesel production. Palm has now declined for six straight sessions.

- Date: 2021-06-14 · published 2021-06-14T12:00:00.000Z
- Category: policy · region US · magnitude medium
- Page: https://feedsoft.ai/events/10807-palm-extends-fall-to-hit-over-4-month-low-on-cheaper-us-soyoil-markets-business
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A possible cut in US biodiesel production would reduce demand for soyoil, a major competitor to palm in biofuel use. This weakens the price outlook for palm and soyoil.

## Read by commodity

- SBO: bearish ▼
- SOY: bearish ▼
- PALMOIL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2021-06-14 | 5 | -11.7% | -3.3 | Early June 14 trade saw palm down 5.7% as CBOT soyoil fell on reports the US may cut biodiesel production, reducing vegetable oil demand and feeding sentiment. |
| SBO | 2021-06-16 | 5 | -11.4% | -4.5 | Soyoil fell over 2% on reports the US may reduce biodiesel production, with palm falling in sympathy and reinforcing the downward pressure. |
| PALMOIL | 2021-06-13 | 5 | -10.6% | -3.6 | On June 14 palm extended a six-session losing streak on cheaper US soyoil and reports the US may cut biodiesel, confirming the biofuel-policy-driven selloff (just after the window). |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2023-04-28 | [Palm oil slumps to over 6-month low - Markets - Business Recorder](https://feedsoft.ai/events/4387-palm-oil-slumps-to-over-6-month-low-markets-business-recorder.md) | -9.7% | -7.7% |
| PALMOIL | 2023-06-22 | [Palm extends losses over soybean oil and lower US biofuel mandate - Markets - Business Recorder](https://feedsoft.ai/events/35581-palm-extends-losses-over-soybean-oil-and-lower-us-biofuel-mandate-markets.md) | +0.5% | +13.6% |
| PALMOIL | 2022-04-01 | [Palm falls 3pc as India extends stock limit - Markets - Business Recorder](https://feedsoft.ai/events/5914-palm-falls-3pc-as-india-extends-stock-limit-markets-business-recorder.md) | -8.9% | -1.8% |
| PALMOIL | 2022-06-29 | [Palm falls on likely higher output, lower demand - Markets - Business Recorder](https://feedsoft.ai/events/6219-palm-falls-on-likely-higher-output-lower-demand-markets-business-recorder.md) | -26.1% | -29.7% |
| PALMOIL | 2022-06-10 | [Palm flops to two-month closing low as Indonesia eases export rules - Markets - Business Recorder](https://feedsoft.ai/events/41051-palm-flops-to-two-month-closing-low-as-indonesia-eases-export-rules-markets.md) | -6.3% | -32.4% |
| SBO | 2023-04-28 | [Palm oil slumps to over 6-month low - Markets - Business Recorder](https://feedsoft.ai/events/4387-palm-oil-slumps-to-over-6-month-low-markets-business-recorder.md) | -1.7% | -8.4% |
| SBO | 2023-06-22 | [Palm extends losses over soybean oil and lower US biofuel mandate - Markets - Business Recorder](https://feedsoft.ai/events/35581-palm-extends-losses-over-soybean-oil-and-lower-us-biofuel-mandate-markets.md) | +1.7% | +10.0% |
| SBO | 2021-08-25 | [Palm oil falls - Markets - Business Recorder](https://feedsoft.ai/events/45655-palm-oil-falls-markets-business-recorder.md) | -1.4% | -5.7% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40099952

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