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Malaysian palm oil futures fell on April 1, 2022, on track for a weekly decline of about 6%, tracking losses in soyoil. Malaysian March palm exports rose 6.7% to 7.4% from February, and USDA forecast record US 2022 soybean plantings.
A record US soybean planting forecast raises expected soyoil supply and weighs on vegetable oil prices, pressuring palm as a competing oil. Stronger March exports offer limited support.
brecorder.comReutersApr 3, 2022After 96 past bearish report events, Palm Oil moved a median -0.1% over 5 sessions (48% higher; middle half -1.3% to +1.6%), and -0.9% over 20.
After 146 past bearish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +1.9%), and +0.4% over 20.
After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Weekly loss of about 6% tracking weaker soyoil, with record US soybean planting forecasts adding bearish vegoil supply sentiment.
Notes April 1 palm decline tracking soyoil losses and a weekly drop of about 6%, showing substitute-oil linkage amplifying the selloff.
