# Palm Oil Surges To Highest Since March After US Slashes Soy Area - MPOC

> Malaysian palm oil futures jumped more than 5% toward RM4,000 a ton after a USDA acreage report showed smaller-than-expected US soybean plantings. Chicago soybean oil had surged 7.3% the prior Friday, and palm tracked it higher. Futures reached RM3,994, the highest intraday level since March 15.

- Date: 2023-07-05 · published 2023-07-05T12:00:00.000Z
- Category: report · region Global · magnitude high
- Page: https://feedsoft.ai/events/6543-palm-oil-surges-to-highest-since-march-after-us-slashes-soy-area-mpoc
- 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

A surprise cut in US soybean area tightens the vegetable oil supply outlook, and palm oil follows soyoil as a close substitute. The shock lifts palm, soyoil and soybean prices together.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2023-07-03 | 1 | +11.9% | 4.9 | Describes the same USDA acreage-driven surge of over 5% toward RM4,000, with palm following the 7.3% Chicago soyoil jump, the key catalyst for the move. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2023-07-03 | [Palm oil price to stay high amid tighter soybean market, say analysts](https://feedsoft.ai/events/6546-palm-oil-price-to-stay-high-amid-tighter-soybean-market-say-analysts.md) | +10.3% | +12.9% |
| PALMOIL | 2026-04-24 | [Malaysia’s March Palm Oil Stocks Drop 16.1% As Export Surge Tightens Supply](https://feedsoft.ai/events/19817-malaysia-s-march-palm-oil-stocks-drop-16-1-as-export-surge-tightens-supply.md) | -0.0% | -1.4% |
| PALMOIL | 2023-07-03 | [Palm oil ends more than 5pc higher on supply worries - Markets - Business Recorder](https://feedsoft.ai/events/6544-palm-oil-ends-more-than-5pc-higher-on-supply-worries-markets-business-recorder.md) | +10.3% | +12.9% |
| PALMOIL | 2026-02-04 | [Palm oil tracks Dalian rivals higher - Markets - Business Recorder](https://feedsoft.ai/events/4663-palm-oil-tracks-dalian-rivals-higher-markets-business-recorder.md) | -1.6% | -0.6% |
| PALMOIL | 2021-01-05 | [Palm oil hits 10-year high - Markets - Business Recorder](https://feedsoft.ai/events/4999-palm-oil-hits-10-year-high-markets-business-recorder.md) | +1.3% | -10.0% |
| SBO | 2023-07-03 | [Palm oil price to stay high amid tighter soybean market, say analysts](https://feedsoft.ai/events/6546-palm-oil-price-to-stay-high-amid-tighter-soybean-market-say-analysts.md) | +6.2% | +2.3% |
| SBO | 2023-07-01 | [U.S. grains: Soy soars after USDA slashes plantings estimate - Grainews](https://feedsoft.ai/events/35069-u-s-grains-soy-soars-after-usda-slashes-plantings-estimate-grainews.md) | +6.2% | +2.3% |
| SBO | 2023-07-03 | [Palm oil ends more than 5pc higher on supply worries - Markets - Business Recorder](https://feedsoft.ai/events/6544-palm-oil-ends-more-than-5pc-higher-on-supply-worries-markets-business-recorder.md) | +6.2% | +2.3% |

## Sources

- mpoc.org.my: https://www.mpoc.org.my/palm-oil-surges-to-highest-since-march-after-us-slashes-soy-area/

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