# Malaysian palm oil falls tracking weak crude - Markets - Business Recorder

> Malaysian palm oil futures fell 1.58% to 5,114 ringgit after closing at their highest since mid-June 2022 the prior session. Weakness in soyoil and crude oil pressured the market, and Malaysia's October palm oil stocks shrank the most in seven months as exports surged.

- Date: 2024-11-13 · published 2024-11-13T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/27498-malaysian-palm-oil-falls-tracking-weak-crude-markets-business-recorder
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Lower crude oil weakens palm's attractiveness as biodiesel feedstock, pressuring prices. The sharp October stock drawdown from strong exports offers some underlying support.

## Read by commodity

- SBO: bearish ▼
- WTI: bearish ▼
- PALMOIL: bearish ▼

## Sources

- brecorder.com: https://www.brecorder.com/news/40332113

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