# Palm oil price at week high on stronger soyoil, weaker ringgit | The Star

> Malaysian palm oil futures climbed to a one-week high on Wednesday, extending gains for a third day. The rise followed higher US soyoil on CBOT and a weaker ringgit, which fell to its weakest level against the dollar since late December.

- Date: 2019-05-15 · published 2019-05-15T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/12584-palm-oil-price-at-week-high-on-stronger-soyoil-weaker-ringgit-the-star
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

A weaker ringgit makes palm oil cheaper for foreign buyers, which supports export demand and prices. Firmer soyoil adds further support to vegetable oil values.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bullish ▲

## Sources

- thestar.com.my: https://www.thestar.com.my/business/business-news/2019/05/16/palm-scales-1week-high-on-stronger-us-soyoil-weaker-ringgit/

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