# Veg Oil Prices Finding Possible Support After 3-Month Pullback

> After three months of declines, December soybean oil and Malaysian palm oil are showing technical signs of support. Soybean oil fell to 50.82 cents on Oct. 24 before closing the week at 52.27 cents, and palm oil has also corrected from its July peak.

- Date: 2023-10-30 · published 2023-10-30T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/33710-veg-oil-prices-finding-possible-support-after-3-month-pullback
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Possible bottoming in the two largest vegetable oil sources could support prices for feed buyers using soy and palm based fats, though the overall trend remains down until prices clear key averages.

## Read by commodity

- SBO: neutral
- PALMOIL: neutral

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/news/article/2023/10/30/veg-oil-prices-finding-possible-3

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