# Vegoils: Palm oil slips on overnight soyoil fall, weak export data

> Malaysian palm oil futures slipped in early trade on July 31, tracking overnight losses in U.S. soyoil and weak export data from cargo surveyor AmSpec, which showed July exports down 3.9% month on month. The benchmark October contract fell 0.5% to 2,181 ringgit a tonne and is down 6.2% so far this year.

- Date: 2018-07-31 · published 2018-07-31T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/64120-vegoils-palm-oil-slips-on-overnight-soyoil-fall-weak-export-data
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Weaker palm exports and softer soyoil reduce near-term demand for vegetable oils, pressuring palm and soyoil prices and marginally weakening the oil-meal complex for feed buyers.

## Read by commodity

- SBO: bearish ▼
- PALMOIL: bearish ▼

## Sources

- business-standard.com: https://www.business-standard.com/article/reuters/vegoils-palm-oil-slips-on-overnight-soyoil-fall-weak-export-data-118073100222_1.html

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