# Palm oil climbs 5pc, hits two-week high - Markets - Business Recorder

> Malaysian palm oil futures jumped 5% to a two-week high of 4,093 ringgit per tonne. Dry weather in US and Canadian crop areas and lower crop expectations in South America fueled concerns about global edible oil supply. USDA data showed US soybean planting at 84%, behind expectations.

- Date: 2021-06-02 · published 2021-06-02T12:00:00.000Z
- Category: weather · region Global · magnitude medium
- Page: https://feedsoft.ai/events/6356-palm-oil-climbs-5pc-hits-two-week-high-markets-business-recorder
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Weather-related crop concerns and slow US soybean planting tighten global vegetable oil supply, supporting palm oil and soyoil prices. Traders should watch crop conditions in the US and South America.

## Read by commodity

- SBO: bullish ▲
- SOY: bullish ▲
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2026-10-13 | [Palm climbs to two-week high as El Niño supply fears outweigh stocks - Markets - Business Recorder](https://feedsoft.ai/events/530-palm-climbs-to-two-week-high-as-el-nino-supply-fears-outweigh-stocks-markets.md) | -0.2% | — |
| PALMOIL | 2021-01-04 | [Malaysian palm oil futures climb - Markets - Business Recorder](https://feedsoft.ai/events/5001-malaysian-palm-oil-futures-climb-markets-business-recorder.md) | +10.0% | -0.2% |
| PALMOIL | 2020-11-04 | [Palm oil climbs to near 10-month high on tight supply outlook - Markets - Business Recorder](https://feedsoft.ai/events/50253-palm-oil-climbs-to-near-10-month-high-on-tight-supply-outlook-markets-business.md) | +6.0% | +10.9% |
| PALMOIL | 2020-10-06 | [Palm oil jumps over 3pc - Markets - Business Recorder](https://feedsoft.ai/events/50743-palm-oil-jumps-over-3pc-markets-business-recorder.md) | +7.8% | +8.5% |
| PALMOIL | 2024-04-22 | [Malaysian palm oil up - Markets - Business Recorder](https://feedsoft.ai/events/15656-malaysian-palm-oil-up-markets-business-recorder.md) | -0.0% | -4.8% |
| SBO | 2026-10-13 | [Palm climbs to two-week high as El Niño supply fears outweigh stocks - Markets - Business Recorder](https://feedsoft.ai/events/530-palm-climbs-to-two-week-high-as-el-nino-supply-fears-outweigh-stocks-markets.md) | -0.6% | — |
| SBO | 2021-01-04 | [Malaysian palm oil futures climb - Markets - Business Recorder](https://feedsoft.ai/events/5001-malaysian-palm-oil-futures-climb-markets-business-recorder.md) | +0.4% | +0.0% |
| SBO | 2020-10-06 | [Palm oil jumps over 3pc - Markets - Business Recorder](https://feedsoft.ai/events/50743-palm-oil-jumps-over-3pc-markets-business-recorder.md) | +1.0% | +1.2% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40097393

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