# Palm falls as US court ruling stokes demand worries for rival soyoil - Markets - Business Recorder

> Malaysian palm oil futures slipped on June 28, tracking a sharp drop in Chicago soyoil after a US Supreme Court ruling made it easier for small refineries to win biofuel blending exemptions. Purchases by key importers were sluggish, and Malaysia extended a national COVID-19 lockdown.

- Date: 2021-06-28 · published 2021-06-28T12:00:00.000Z
- Category: policy · region US · magnitude medium
- Page: https://feedsoft.ai/events/46659-palm-falls-as-us-court-ruling-stokes-demand-worries-for-rival-soyoil-markets
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

The court ruling weakens expected US biofuel demand for soyoil, pulling palm lower through competition in vegetable oil markets. Weak import buying from India, the EU and China adds further downside pressure.

## Read by commodity

- SBO: bearish ▼
- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2022-07-07 | [Palm falls for fifth day on recession woes, Indonesia’s export rules - Markets - Business Recorder](https://feedsoft.ai/events/4991-palm-falls-for-fifth-day-on-recession-woes-indonesia-s-export-rules-markets.md) | -4.4% | -6.4% |
| PALMOIL | 2022-06-29 | [Palm falls on likely higher output, lower demand - Markets - Business Recorder](https://feedsoft.ai/events/6219-palm-falls-on-likely-higher-output-lower-demand-markets-business-recorder.md) | -26.1% | -29.7% |
| PALMOIL | 2022-04-01 | [Palm falls 3pc as India extends stock limit - Markets - Business Recorder](https://feedsoft.ai/events/5914-palm-falls-3pc-as-india-extends-stock-limit-markets-business-recorder.md) | -8.9% | -1.8% |
| PALMOIL | 2021-06-08 | [Palm falls for second day on forecasts of higher output, stockpiles - Markets - Business Recorder](https://feedsoft.ai/events/10809-palm-falls-for-second-day-on-forecasts-of-higher-output-stockpiles-markets.md) | -11.7% | -7.3% |
| PALMOIL | 2021-06-14 | [Palm extends fall to hit over 4-month low on cheaper US soyoil - Markets - Business Recorder](https://feedsoft.ai/events/10807-palm-extends-fall-to-hit-over-4-month-low-on-cheaper-us-soyoil-markets-business.md) | -3.6% | +0.1% |
| SBO | 2021-08-25 | [Palm oil falls - Markets - Business Recorder](https://feedsoft.ai/events/45655-palm-oil-falls-markets-business-recorder.md) | -1.4% | -5.7% |
| SBO | 2021-06-26 | [Supreme Court ruling, Midwest rains pressure US corn and soya - Markets - Business Recorder](https://feedsoft.ai/events/46610-supreme-court-ruling-midwest-rains-pressure-us-corn-and-soya-markets-business.md) | +6.2% | +6.2% |
| SBO | 2022-04-01 | [Palm falls 3pc as India extends stock limit - Markets - Business Recorder](https://feedsoft.ai/events/5914-palm-falls-3pc-as-india-extends-stock-limit-markets-business-recorder.md) | +271.3% | +288.9% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40103412

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