# Palm oil tracks soyoil fall, wet weather stokes supply concerns - Markets - Business Recorder

> Malaysian palm oil futures fell 0.26% to 2,649 ringgit per tonne as rival soyoil dropped. The Council of Palm Oil Producing Countries said a possible La Nina could bring wetter weather to Indonesia and Malaysia, and forecast 2020 Indonesian output 1-2 million tonnes below last year. Malaysian output is expected to fall 4.3%.

- Date: 2020-07-23 · published 2020-07-23T12:00:00.000Z
- Category: weather · region Malaysia · magnitude medium
- Page: https://feedsoft.ai/events/52203-palm-oil-tracks-soyoil-fall-wet-weather-stokes-supply-concerns-markets-business
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Forecast production declines from La Nina-linked rains support palm prices even as short-term trading follows soyoil lower.

## Read by commodity

- SBO: bearish ▼
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2021-10-25 | [Palm rebounds on tight supply concerns, rival oil strength - Markets - Business Recorder](https://feedsoft.ai/events/44664-palm-rebounds-on-tight-supply-concerns-rival-oil-strength-markets-business.md) | +0.3% | +1.2% |
| PALMOIL | 2026-07-23 | [Malaysian palm oil closes higher on supply squeeze concerns - Markets - Business Recorder](https://feedsoft.ai/events/18444-malaysian-palm-oil-closes-higher-on-supply-squeeze-concerns-markets-business.md) | +0.4% | +4.5% |
| PALMOIL | 2020-07-21 | [Palm oil bounces back, hovers near 5-month high on supply concerns - Markets - Business Recorder](https://feedsoft.ai/events/52202-palm-oil-bounces-back-hovers-near-5-month-high-on-supply-concerns-markets.md) | +0.4% | +8.7% |
| PALMOIL | 2023-08-29 | [Malaysian palm jumps 1% amid supply concerns in India - Markets - Business Recorder](https://feedsoft.ai/events/34676-malaysian-palm-jumps-1-amid-supply-concerns-in-india-markets-business-recorder.md) | +1.2% | -3.2% |
| PALMOIL | 2020-10-23 | [Palm oil flat, logs 2pc weekly rise on supply worries - Markets - Business Recorder](https://feedsoft.ai/events/50739-palm-oil-flat-logs-2pc-weekly-rise-on-supply-worries-markets-business-recorder.md) | +0.7% | +14.3% |
| SBO | 2021-06-16 | [Palm falls more than 4pc tracking weak US soyoil - Markets - Business Recorder](https://feedsoft.ai/events/10805-palm-falls-more-than-4pc-tracking-weak-us-soyoil-markets-business-recorder.md) | -6.8% | -2.7% |
| SBO | 2021-01-20 | [CBOT soyabean futures fall - Markets - Business Recorder](https://feedsoft.ai/events/9540-cbot-soyabean-futures-fall-markets-business-recorder.md) | +3.0% | +11.5% |
| SBO | 2023-11-25 | [Soybeans fall as rain benefits top supplier Brazil - Markets - Business Recorder](https://feedsoft.ai/events/33226-soybeans-fall-as-rain-benefits-top-supplier-brazil-markets-business-recorder.md) | -0.2% | -4.1% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40007240

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