# Adapting and correcting. 
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Aveno NV - The one stop shop for all your Oils and Fats

> Aveno's biweekly update says palm oil futures sank below 4,000 ringgit per ton to their lowest in over a month as seasonal output rose. Soybean oil weakened considerably with funds holding record shorts, while rapeseed oil gained on poor EU weather and biodiesel demand.

- Date: 2024-04-29 · published 2024-04-29T12:00:00.000Z
- Category: market · region Europe · magnitude low
- Page: https://feedsoft.ai/events/4568-adapting-and-correcting-aveno-nv-the-one-stop-shop-for-all-your-oils-and-fats
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Seasonal palm supply growth and a weak soyoil complex point to lower vegetable oil prices, while rapeseed strength reflects tighter European supply. Buyers of oil-based feed inputs should note the divergence across oils.

## Read by commodity

- SBO: bearish ▼
- CANMEAL: bullish ▲
- PALMOIL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBO | 2024-04-29 | 1 | -2.9% | -3.3 | Aveno's update dated Apr 29 says soybean oil weakened considerably with funds at record shorts while palm oil sank, pointing to fund-driven selling and weak rival oils. |
| PALMOIL | 2024-05-01 | 1 | -7.3% | -10.6 | It describes palm futures breaking below 4,000 ringgit on rising seasonal output and record fund shorts in soyoil, which set up the supply-driven selling pressure heading into May 1. |
| PALMOIL | 2024-04-30 | 1 | -7.3% | -10.6 | Notes seasonal output rising and weak soyoil with record fund shorts, which pressured palm below 4,000 ringgit and set a bearish backdrop. |

## Sources

- aveno.be: https://www.aveno.be/2024/04/adapting-and-correcting.html

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