# Soybean oil futures surging higher | World Grain

> Soybean oil futures have risen about 13% since August 16, when they hit a four-year low after a bearish USDA report. Cash soyoil prices have also climbed more than 3 cents per pound, even as basis values declined and the US harvest expanded.

- Date: 2024-11-04 · published 2024-11-04T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/27478-soybean-oil-futures-surging-higher-world-grain
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Palm oil's sustained rally to two-year highs, driven by lower Indonesian and Malaysian output, is providing a price floor for soyoil. Global vegetable oil tightness supports soybean oil and related meal values.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2024-11-04 | 5 | +9.9% | 4.2 | Soybean oil futures rose about 13% from the August low, lifting competing vegetable oil and palm via spread linkage. |

## Sources

- world-grain.com: https://www.world-grain.com/articles/20667-soybean-oil-futures-surging-higher

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