# Palm oil slips 2% on expectations of weak export data

> Malaysian palm oil futures fell about 2% on Tuesday after two sessions of gains, with the July contract down to 3,834 ringgit per ton. Expectations of weaker Malaysian exports and a drop in Chicago soyoil prices pressured the market, while Israel-Hamas ceasefire talks eased crude.

- Date: 2024-05-01 · published 2024-05-01T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/4566-palm-oil-slips-2-on-expectations-of-weak-export-data
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Lower expected exports and weaker soyoil point to softer vegetable oil prices. Weaker crude also reduces palm's appeal as biodiesel feedstock.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2024-05-01 | 1 | -7.3% | -10.6 | Dated on the move day, it reports palm futures falling on expectations of weaker Malaysian exports and lower Chicago soyoil, a direct demand and sentiment driver, though the stated drop (~2%) is smaller than the -7.34% move. |
| PALMOIL | 2024-04-30 | 1 | -7.3% | -10.6 | Reports the roughly 2% fall on Tuesday April 30 on expectations of weak Malaysian exports and lower Chicago soyoil, with crude easing on ceasefire talks, which are the immediate demand and input-cost drivers. |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/palm-oil-slips-2-on-expectations-of-weak-export-data/

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