# Soyoil assumes power position as palm oil prices reach near-record premium | Reuters

> Palm oil has risen nearly 30% this year on supply concerns and now trades at a near-record discount to soybean oil's 11% year-to-date decline. Soybean oil is trading at a rare discount to palm oil as global output of soybeans hit records.

- Date: 2024-11-26 · published 2024-11-26T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/11132-soyoil-assumes-power-position-as-palm-oil-prices-reach-near-record-premium
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

The unusually wide palm-soy spread is likely to shift vegoil demand toward soybean oil, supporting SBO prices relative to palm. Feed buyers may substitute soy-based fats where the discount is wide.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/soyoil-assumes-power-position-palm-oil-prices-reach-near-record-premium-braun-2024-11-26/

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