# Decline in soybean oil prices by 4.3% increases pressure on palm and sunflower oil markets

> August soybean oil futures in Chicago fell 4.3% to $1,020 per tonne on July 9 after rallying about 11% since early July. Palm oil fell 2% on Bursa Malaysia ahead of the MPOB report, and Brent crude dropped 3.3%.

- Date: 2024-07-10 · published 2024-07-10T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/11590-decline-in-soybean-oil-prices-by-4-3-increases-pressure-on-palm-and-sunflower
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Lower soyoil and crude prices reduce vegetable oil substitution support, and expected higher Malaysian palm stocks add pressure on palm and sunflower oil prices.

## Read by commodity

- SBO: bearish ▼
- BRENT: bearish ▼
- PALMOIL: bearish ▼

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/decline-in-soybean-oil-prices-by-4-3-increases-pressure-on-palm-and-sunflower-oil-markets/

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