# Palm hits four-year high before easing on weaker soyoil | Borneo Post Online

> Malaysian palm oil futures reached their highest since August 2012 on Friday before easing to close slightly lower on weaker soyoil and a firmer ringgit. Traders expected the market to consolidate ahead of year-end monsoon rains that typically disrupt harvesting.

- Date: 2016-12-03 · published 2016-12-03T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/10929-palm-hits-four-year-high-before-easing-on-weaker-soyoil-borneo-post-online
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

Palm oil tracks soyoil and the ringgit, so the pullback in soyoil and currency strength limit near-term gains. Seasonal monsoon harvest disruption could still support palm prices and vegetable oil meal alternatives.

## Read by commodity

- SBO: bearish ▼
- USDMYR: bullish ▲
- PALMOIL: neutral

## Sources

- theborneopost.com: https://www.theborneopost.com/2016/12/04/palm-hits-four-year-high-before-easing-on-weaker-soyoil/

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