# BMD Palm Holds Tight Spread With CBOT Soy Oil

> BMD palm oil and CBOT soybean oil are holding a tight price spread amid Indonesian supply shifts and strong Chinese soybean buying. USDA reported 132,000 tons of soybean sales to China and 2.6 MMT of weekly export sales. The September soyoil contract rose to 43.14 cents per pound from 41.7 cents on August 26.

- Date: 2024-09-03 · published 2024-09-03T12:00:00.000Z
- Category: trade · region US · magnitude medium
- Page: https://feedsoft.ai/events/6162-bmd-palm-holds-tight-spread-with-cbot-soy-oil
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Robust Chinese purchases and crop-size uncertainty underpin soybean and soyoil prices, and the tight palm-soyoil spread links the two markets. Higher soyoil supports palm oil.

## Read by commodity

- SBM: neutral
- SBO: bullish ▲
- SOY: bullish ▲
- PALMOIL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2024-09-03 | 1 | +4.1% | 5.4 | Rising CBOT soyoil with a tight palm-soyoil spread and strong Chinese soybean buying lifted the broader vegetable oil complex, supporting palm. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2019-10-23 | [Palm oil jumps to 16-month high as China’s waivers boost soy \| The Star](https://feedsoft.ai/events/56666-palm-oil-jumps-to-16-month-high-as-china-s-waivers-boost-soy-the-star.md) | -1.7% | -2.4% |
| SOY | 2025-04-24 | [CBOT soybeans near two-month high on export optimism](https://feedsoft.ai/events/11800-cbot-soybeans-near-two-month-high-on-export-optimism.md) | -0.5% | +2.2% |
| SOY | 2021-06-01 | [Insight: Spies, satellites, subpoenas: soy buyers play hardball with Brazilian farmers](https://feedsoft.ai/events/47124-insight-spies-satellites-subpoenas-soy-buyers-play-hardball-with-brazilian.md) | +1.9% | -11.3% |
| SOY | 2025-10-31 | [With a China Deal How High Will Soybean and Grain Prices Rally? What is China Already Buying? - AgWeb](https://feedsoft.ai/events/14628-with-a-china-deal-how-high-will-soybean-and-grain-prices-rally-what-is-china.md) | +0.0% | +4.3% |
| SOY | 2022-02-23 | [With fertilizer costs high and seeds scarce, U.S. farmers turn to soy \| Reuters](https://feedsoft.ai/events/42759-with-fertilizer-costs-high-and-seeds-scarce-u-s-farmers-turn-to-soy-reuters.md) | +4.3% | +3.8% |
| SBO | 2019-10-23 | [Palm oil jumps to 16-month high as China’s waivers boost soy \| The Star](https://feedsoft.ai/events/56666-palm-oil-jumps-to-16-month-high-as-china-s-waivers-boost-soy-the-star.md) | +0.5% | +0.4% |
| SBO | 2019-02-11 | [EU to tighten palm oil for biofuels rules](https://feedsoft.ai/events/60633-eu-to-tighten-palm-oil-for-biofuels-rules.md) | -3.0% | -4.8% |
| SBO | 2019-07-05 | [Tergelincir, Harga Crude Palm Oil Sulit Bangkit](https://feedsoft.ai/events/58175-tergelincir-harga-crude-palm-oil-sulit-bangkit.md) | +0.2% | -1.2% |

## Sources

- vespertool.com: https://vespertool.com/news/palm-maintains-tight-spread-with-soy/

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