# Palm set for third day of gains as soy oil strengthens

> Malaysian palm oil futures rose for a third day on July 28, with the October contract up 4.55% to 4,000 ringgit per tonne. Soyoil and Dalian contracts gained as Chicago soybeans rallied on hot, dry US weather.

- Date: 2022-07-28 · published 2022-07-28T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/40583-palm-set-for-third-day-of-gains-as-soy-oil-strengthens
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Stronger soyoil and crude oil prices and US crop stress lift vegetable oil prices, and Indonesia's resumed palm exports partly offset the gain.

## Read by commodity

- SBO: bullish ▲
- SOY: bullish ▲
- WTI: bullish ▲
- PALMOIL: bullish ▲

## Sources

- mettisglobal.news: https://mettisglobal.news/Palm-set-for-third-day-of-gains-as-soy-oil-strengthens

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