# Palm drops as rival oils drag; March exports, output data eyed - Markets - Business Recorder

> Malaysian palm oil futures opened lower on Wednesday, the June contract on Bursa Malaysia falling 1.76% to 3,509 ringgit per tonne after a 4.6% drop the previous day. Losses in rival oils weighed, and traders awaited US soy planting reports and Malaysia's monthly export and production data.

- Date: 2021-03-31 · published 2021-03-31T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/48222-palm-drops-as-rival-oils-drag-march-exports-output-data-eyed-markets-business
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Palm trades alongside soyoil and other vegetable oils, so a broad vegetable oil sell-off pressures palm prices and feed-related oilseed co-products sentiment. Tracking rival oil weakness suggests near-term downside unless export and output data surprise.

## Read by commodity

- SBO: bearish ▼
- PALMOIL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2021-03-31 | 1 | -5.3% | -3.9 | Palm opened sharply lower on 31 March after a 4.6% drop the day before, with losses in rival oils and pending export/output data driving position reductions. |

## Sources

- brecorder.com: https://www.brecorder.com/news/40079716

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