# US New-Crop Plant-Based Oil Prices

> December soybean oil closed up 0.46 cent last week at 29.02 cents per pound, just above its 100-day average for the first time since April. Malaysian October palm oil rose 95 ringgits to 2,067 ringgits per ton after nearing 10-year lows.

- Date: 2019-07-29 · published 2019-07-29T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/58191-us-new-crop-plant-based-oil-prices
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

A potential double bottom and bullish weekly momentum suggest vegetable oil prices may be turning higher, though USDA expects world palm oil output to rise 3% in 2019-20.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bullish ▲

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/blogs/technically-speaking/blog-post/2019/07/29/us-new-crop-plant-based-oil-prices

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