# Palm extends losses - Markets - Business Recorder

> Malaysian palm oil futures fell as much as 5.7% on March 15, extending losses to a fourth session. Weaker crude, speculative selling and COVID-19 cases surging in China, a key buyer, weighed on prices.

- Date: 2022-03-16 · published 2022-03-16T12:00:00.000Z
- Category: macro · region Malaysia · magnitude medium
- Page: https://feedsoft.ai/events/5497-palm-extends-losses-markets-business-recorder
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Weaker demand from China and lower crude prices pressure palm oil and related vegetable oils, while Indonesia's export rule changes remain a watch point for supply.

## Read by commodity

- SBO: bearish ▼
- WTI: bearish ▼
- PALMOIL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBO | 2022-03-18 | 5 | -10.1% | -3.2 | Palm's continued losses through March 15 on weaker crude, speculative selling and China COVID demand worries extended the vegetable oil selloff and weighed on soybean oil. |
| SBO | 2022-03-17 | 1 | -3.1% | -3.2 | Palm oil extended losses to a fourth session on March 15 on weak crude, speculative selling and China COVID concerns, and palm weakness spills into soybean oil as a close substitute, which fits a sharp drop in mid-March. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2022-09-28 | [Palm hits lowest in over 1-1/2 years as recession fears dent demand - Markets - Business Recorder](https://feedsoft.ai/events/39674-palm-hits-lowest-in-over-1-1-2-years-as-recession-fears-dent-demand-markets.md) | -4.7% | +1.1% |
| PALMOIL | 2022-07-01 | [Palm oil falls 4% on recession fears, higher supply outlook - Markets - Business Recorder](https://feedsoft.ai/events/6225-palm-oil-falls-4-on-recession-fears-higher-supply-outlook-markets-business.md) | -24.3% | -29.0% |
| PALMOIL | 2022-08-16 | [Turner's Take Ag Markets \| Rains and Chinese Rate Cut Sends CBOT Lower](https://feedsoft.ai/events/6530-turner-s-take-ag-markets-rains-and-chinese-rate-cut-sends-cbot-lower.md) | -0.2% | -6.6% |
| PALMOIL | 2021-12-06 | [Malaysia Ringgit To Remain At Weaker Levels Through 2022 - BusinessToday](https://feedsoft.ai/events/43876-malaysia-ringgit-to-remain-at-weaker-levels-through-2022-businesstoday.md) | +3.1% | +6.3% |
| PALMOIL | 2020-02-25 | [Crude palm oil futures hit 4-month low on uncertain market sentiment \| Malay Mail](https://feedsoft.ai/events/6573-crude-palm-oil-futures-hit-4-month-low-on-uncertain-market-sentiment-malay-mail.md) | -13.3% | -15.6% |
| SBO | 2022-09-28 | [Palm hits lowest in over 1-1/2 years as recession fears dent demand - Markets - Business Recorder](https://feedsoft.ai/events/39674-palm-hits-lowest-in-over-1-1-2-years-as-recession-fears-dent-demand-markets.md) | +2.6% | +9.3% |
| SBO | 2022-07-01 | [Palm oil falls 4% on recession fears, higher supply outlook - Markets - Business Recorder](https://feedsoft.ai/events/6225-palm-oil-falls-4-on-recession-fears-higher-supply-outlook-markets-business.md) | -7.8% | -10.0% |
| SBO | 2020-03-09 | [Corn, soybeans, wheat drop about 2% as global markets recoil \| Financial Post](https://feedsoft.ai/events/11269-corn-soybeans-wheat-drop-about-2-as-global-markets-recoil-financial-post.md) | -8.3% | -7.2% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40160975

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