# SunSirs: Chinese Palm Oil and Chinese Soybean Oil have Fell 2.69% and 3.16% Respectively in a Single Day

> Chinese soybean oil fell 2.69% and palm oil fell 3.16% in a single day on August 18 after a sharp prior rally. Soybean oil had risen more than 6% over two weeks, supported by a bullish USDA report and strength in Malaysian palm oil.

- Date: 2021-08-19 · published 2021-08-19T12:00:00.000Z
- Category: market · region China · magnitude low
- Page: https://feedsoft.ai/events/11367-sunsirs-chinese-palm-oil-and-chinese-soybean-oil-have-fell-2-69-and-3-16
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

The one-day drop reflects profit taking after a rally, and soyoil's weaker performance relative to palm oil points to pressure from inventories. Price direction will depend on the next USDA and Malaysian palm data.

## Read by commodity

- SBO: bearish ▼
- PALMOIL: bearish ▼

## Sources

- sunsirs.com: https://www.sunsirs.com/commodity-news/petail-5507.html

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