# Soy Oil Rallies on Prospect for Indonesia, China Trade Spat

> Soybean oil futures in Chicago posted their biggest two-day rally in over a year. The move followed reports that Indonesia is preparing tariffs and other measures to protect its textile industry from Chinese imports, raising fears of Chinese retaliation against Indonesian palm oil.

- Date: 2024-07-02 · published 2024-07-02T12:00:00.000Z
- Category: trade · region Indonesia · magnitude medium
- Page: https://feedsoft.ai/events/12747-soy-oil-rallies-on-prospect-for-indonesia-china-trade-spat
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Possible Chinese retaliation against Indonesian palm oil could tighten vegetable oil supply and redirect demand toward soybean oil, supporting prices. Feed buyers may see higher costs for soy-based oils and meals.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBO | 2024-07-08 | 5 | +10.4% | 2.8 | Fears of Chinese retaliation against Indonesian palm oil triggered the biggest two-day soyoil rally in over a year, starting the move. |
| SBO | 2024-07-08 | 1 | +3.7% | 3.1 | The Indonesia-China trade spat triggered the biggest two-day soyoil rally in over a year, starting the run that continued into July 8. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2026-03-01 | [Soy Oil Rallies as India Agrees to Cut Duties on US Supplies](https://feedsoft.ai/events/20702-soy-oil-rallies-as-india-agrees-to-cut-duties-on-us-supplies.md) | +4.6% | -1.4% |
| SBO | 2019-09-01 | [The Trade War Is Creating a Windfall for Rivals of U.S. Soy in China](https://feedsoft.ai/events/57615-the-trade-war-is-creating-a-windfall-for-rivals-of-u-s-soy-in-china.md) | -1.3% | +1.2% |
| SBO | 2020-05-14 | [China Trade-Deal Splurge Includes Rare Purchase of U.S. Soyoil](https://feedsoft.ai/events/53232-china-trade-deal-splurge-includes-rare-purchase-of-u-s-soyoil.md) | +6.7% | +7.3% |
| SBO | 2020-09-24 | [EU’s Trade Policy Review – Indonesia Responds - Indonesia Palm Oil Facts](https://feedsoft.ai/events/51146-eu-s-trade-policy-review-indonesia-responds-indonesia-palm-oil-facts.md) | +2.1% | +1.6% |
| SBO | 2022-04-28 | [Indonesia export ban traps 290,000 T of palm oil shipments for India  -trade](https://feedsoft.ai/events/41969-indonesia-export-ban-traps-290-000-t-of-palm-oil-shipments-for-india-trade.md) | -2.7% | -7.3% |
| PALMOIL | 2019-10-29 | [As India, EU may increase duties, Indonesia eyes China for palm oil export](https://feedsoft.ai/events/56447-as-india-eu-may-increase-duties-indonesia-eyes-china-for-palm-oil-export.md) | +13.0% | +17.4% |
| PALMOIL | 2019-09-01 | [The Trade War Is Creating a Windfall for Rivals of U.S. Soy in China](https://feedsoft.ai/events/57615-the-trade-war-is-creating-a-windfall-for-rivals-of-u-s-soy-in-china.md) | +0.8% | +0.6% |
| PALMOIL | 2021-10-07 | [Indonesia's Sep palm oil exports fall 33% on month as India, China favor Malaysia](https://feedsoft.ai/events/44662-indonesia-s-sep-palm-oil-exports-fall-33-on-month-as-india-china-favor-malaysia.md) | +2.3% | +4.6% |

## Sources

- news.bloomberglaw.com: https://news.bloomberglaw.com/international-trade/soy-oil-rallies-on-prospect-for-indonesia-china-trade-spat

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