# Soybean oil prices are falling despite the rise in oil prices and the results of the tender in Egypt

> Chicago soybean oil futures fell 1.4% to 4.5% on profit-taking and faster US planting, even as crude oil rose. Egypt's GASC bought 34,000 tonnes of local soyoil and 30,000 tonnes of imported soyoil, but prices were not supported, and Argentine soyoil fell on higher supply and weaker Indian demand.

- Date: 2021-04-30 · published 2021-04-30T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/47671-soybean-oil-prices-are-falling-despite-the-rise-in-oil-prices-and-the-results
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Routine price moves with profit-taking and planting progress weigh on soyoil near term, while tender purchases provide only limited support.

## Read by commodity

- SBO: bearish ▼
- PALMOIL: neutral

## Sources

- graintrade.com.ua: https://graintrade.com.ua/en/novosti/tcini-na-soevu-oliyu-padayut-nezvazhayuchi-na-podorozhchannya-nafti-ta-pidsumki-tenderu-v-.html

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