# Plant Oils Adapt to New Era, Find Bullish Support?

> DTN analysis notes that August soybean oil prices found technical support near multi-year lows in late June, with a new low quickly reversed. Soyoil peaked above 80 cents per lb in April 2022 and has since roughly halved amid regulatory disappointments and competing feedstocks.

- Date: 2024-07-08 · published 2024-07-08T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/11589-plant-oils-adapt-to-new-era-find-bullish-support
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

A reversal from new lows could signal a bottom in soyoil and palm oil, but competing feedstocks and weak RFS policy still limit upside.

## Read by commodity

- SBO: neutral
- PALMOIL: neutral

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/Ag/blogs/technically-speaking/blog-post/2024/07/08/plant-oils-adapt-new-era-find

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