# Three Vegetable Oils

> March soybean oil closed at a new one-year high of 32.87 cents per pound, while February Malaysian palm oil slipped 0.2% after reaching its highest level since February 2017. USDA estimates world vegetable oil stocks at 9% of annual use in 2019-20. Noncommercial traders held nearly 100,000 net long soybean oil contracts, and expected Chinese purchases were cited as supportive.

- Date: 2019-12-16 · published 2019-12-16T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/5353-three-vegetable-oils
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Tight global vegetable oil stocks and expected Chinese buying support soybean oil prices and raise the value of soybean-based feed. Palm oil may consolidate after its strong rally.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: neutral

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBO | 2019-12-18 | 5 | +7.0% | 3.4 | March soybean oil hit a new one-year high on Dec 16, with palm oil near multi-year highs, tight world vegetable oil stocks and expected Chinese buying all supporting the rally. |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/Ag/blogs/technically-speaking/blog-post/2019/12/16/three-vegetable-oils

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