# Prices firming under the lead of soy
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Aveno NV - The one stop shop for all your Oils and Fats

> Edible oil prices firmed in early July, with Kuala Lumpur palm oil futures rising above 4,000 ringgit per tonne for the second time since mid-April. Brent crude rose more than 6% in June, and the euro gained as eurozone inflation stayed high.

- Date: 2024-07-08 · published 2024-07-08T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/11585-prices-firming-under-the-lead-of-soy-aveno-nv-the-one-stop-shop-for-all-your
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Stronger crude and soyoil prices support palm oil through biofuel substitution, while expected lower Malaysian June output tightens supply.

## Read by commodity

- SBO: bullish ▲
- BRENT: bullish ▲
- PALMOIL: bullish ▲

## Sources

- aveno.be: https://www.aveno.be/2024/07/prices-firming-under-lead-of-soy.html

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