# Palm slips for second day as crude prices fall

> Malaysian palm oil futures fell for a second session on March 31, 2022, to 5,862 ringgit a tonne, after crude oil dropped more than $5 on reports the US may release strategic reserves. Dalian soyoil rose 0.6% while CBOT soyoil fell 1.1%.

- Date: 2022-03-31 · published 2022-03-31T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/5917-palm-slips-for-second-day-as-crude-prices-fall
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Lower crude oil weakens palm's attractiveness as biodiesel feedstock, pushing vegetable oil prices down. The move reflects energy-driven selling rather than a change in palm supply.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WTI | 2022-03-31 | 5 | -11.6% | -3.2 | Crude fell more than $5 on March 31 on reports the US may release strategic reserves, a direct supply-side driver of the -11.56% five-day drop. |
| PALMOIL | 2022-03-31 | 5 | -13.0% | -4.3 | On March 31 palm fell for a second session to 5,862 ringgit as crude dropped over $5 on US strategic reserve release reports, which cut biodiesel-feedstock appeal and drove the end of the 5-day decline. |
| PALMOIL | 2022-04-01 | 5 | -13.0% | -4.6 | Palm fell for a second session on Mar 31 as crude slid over $5 on US strategic reserve reports, reducing biodiesel-linked support, and CBOT soyoil fell. |
| PALMOIL | 2022-04-01 | 1 | -12.8% | -5.7 | March 31 second straight palm decline on a crude drop of more than $5 on US reserve release reports, which lowered the biodiesel-feedstock premium and set up the April 1 selloff. |
| PALMOIL | 2022-03-31 | 1 | -12.8% | -5.7 | On March 31 palm futures fell for a second session as crude dropped more than $5 on reports of a US strategic reserve release, which cut biodiesel-linked demand and sentiment. |

## Sources

- mettisglobal.news: https://mettisglobal.news/Palm-slips-for-second-day-as-crude-prices-fall

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