# Palm Oil Shows Signs of Support

> DTN analysis says Malaysian palm oil futures fell to a new contract low of 2,010 ringgit, near 11-year lows, while holding above the 2015 low. July soybean oil also hit a contract low of 27.35 cents per pound as US soybean inventories built during the China trade dispute. The analyst sees signs of a bottom in both markets.

- Date: 2019-05-06 · published 2019-05-06T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/12582-palm-oil-shows-signs-of-support
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Record US soybean oil stocks and weak prices are bearish, but healthy vegetable oil demand growth may limit further declines. Buyers should watch whether technical support holds.

## Read by commodity

- SBO: neutral
- PALMOIL: neutral

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/blogs/technically-speaking/blog-post/2019/05/06/palm-oil-shows-signs-support

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