# Falling soybean oil prices weigh on other vegetable oil markets

> Soybean oil and soybean prices fell during the week of July 31 under pressure from increased South American supplies and favorable US weather. Chinese soybean meal prices dropped nearly 8% in July, and palm and rapeseed oil also weakened, with Brent crude down about 10% over the month.

- Date: 2024-07-31 · published 2024-07-31T12:00:00.000Z
- Category: weather · region Global · magnitude medium
- Page: https://feedsoft.ai/events/29357-falling-soybean-oil-prices-weigh-on-other-vegetable-oil-markets
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Ample soybean supply and better US crop prospects are pushing down vegetable oil and meal prices globally. Cheaper protein meal and vegetable oils lower feed input costs for buyers.

## Read by commodity

- SBM: bearish ▼
- SBO: bearish ▼
- SOY: bearish ▼
- PALMOIL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SOY | 2024-07-29 | 5 | -7.5% | -3.6 | Week-of-July-31 report attributes soybean and soyoil declines to bigger South American supply and favorable US weather, directly describing the supply-driven selloff. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2024-10-25 | [Soybean market turns on Brazil](https://feedsoft.ai/events/13540-soybean-market-turns-on-brazil.md) | -1.4% | -1.9% |
| SOY | 2017-10-02 | [Wheat hits 1-wk low on higher US output, soybean prices ease](https://feedsoft.ai/events/7537-wheat-hits-1-wk-low-on-higher-us-output-soybean-prices-ease.md) | +0.4% | +0.7% |
| SOY | 2026-06-07 | [Corn, soybeans futures decline on US weather, dollar strength - Markets - Business Recorder](https://feedsoft.ai/events/10646-corn-soybeans-futures-decline-on-us-weather-dollar-strength-markets-business.md) | -0.7% | +6.7% |
| SOY | 2021-01-12 | [CBOT soyabean futures fall on better rains - Markets - Business Recorder](https://feedsoft.ai/events/9542-cbot-soyabean-futures-fall-on-better-rains-markets-business-recorder.md) | +0.8% | +2.0% |
| SOY | 2026-07-29 | [CBOT soybeans sink on favorable US weather \| Reuters](https://feedsoft.ai/events/9378-cbot-soybeans-sink-on-favorable-us-weather-reuters.md) | -4.7% | +1.3% |
| SBO | 2024-01-31 | [Vegetable Oils Weaken on Red Sea Crisis, Soybean Supply](https://feedsoft.ai/events/6836-vegetable-oils-weaken-on-red-sea-crisis-soybean-supply.md) | +0.2% | -1.4% |
| SBO | 2021-01-12 | [CBOT soyabean futures fall on better rains - Markets - Business Recorder](https://feedsoft.ai/events/9542-cbot-soyabean-futures-fall-on-better-rains-markets-business-recorder.md) | -1.6% | +7.2% |
| SBO | 2020-07-23 | [Palm oil tracks soyoil fall, wet weather stokes supply concerns - Markets - Business Recorder](https://feedsoft.ai/events/52203-palm-oil-tracks-soyoil-fall-wet-weather-stokes-supply-concerns-markets-business.md) | -0.9% | +5.8% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/falling-soybean-oil-prices-weigh-on-other-vegetable-oil-markets/

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