# Crude Palm Oil Faces Another Difficult Month

> Malaysian crude palm oil for August delivery closed 9.7% lower on May 31 to a contract low, the weakest since January 2021. The benchmark has now posted a third consecutive monthly loss, with spillover weakness reported in soybean oil.

- Date: 2023-05-31 · published 2023-05-31T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/36035-crude-palm-oil-faces-another-difficult-month
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Sustained palm oil weakness to multi-year lows signals ample vegetable oil supply, pressuring oilseed and oil prices globally.

## Read by commodity

- SBO: bearish ▼
- PALMOIL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2023-05-31 | 1 | -8.4% | -4.5 | Reports the August contract closing sharply lower at a contract low on May 31 with spillover weakness in soybean oil, matching the size of the move. |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/AG/blogs/canada-markets/blog-post/2023/05/31/crude-palm-oil-faces-another-month

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