# Palm oil slips on Friday - Markets - Business Recorder

> Malaysian palm oil futures fell 1.26% to 4,371 ringgit a tonne on July 30, though the benchmark still rose more than 2% for the week, its sixth straight weekly gain. Traders cited profit-taking and weak destination demand at very high prices, with Chicago soyoil down 1.48%.

- Date: 2021-07-30 · published 2021-07-30T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/46159-palm-oil-slips-on-friday-markets-business-recorder
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Routine price moves with profit-taking show the rally is facing resistance from buyers at current levels. Weaker soyoil on the day signals some short-term easing in the vegetable oil complex.

## Read by commodity

- SBO: bearish ▼
- PALMOIL: neutral

## Sources

- brecorder.com: https://www.brecorder.com/news/40110211

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