# Palm oil ends more than 5pc higher on supply worries - Markets - Business Recorder

> Malaysian palm oil futures closed up 5.17% at 3,985 ringgit a ton, a three-session high. The rally tracked soyoil after USDA reported lower-than-expected US soybean plantings and June 1 stocks. Palm exports for June fell 6.9% according to Intertek.

- Date: 2023-07-03 · published 2023-07-03T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/6544-palm-oil-ends-more-than-5pc-higher-on-supply-worries-markets-business-recorder
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Lower US soybean supply and tighter stocks support vegetable oil prices, and palm rises in step with soyoil. Weaker Malaysian exports add to the upward pressure.

## 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 | Palm closed up 5.17% on July 3 tracking soyoil after USDA reported lower-than-expected US soybean plantings and June 1 stocks, directly driving the move via a vegetable-oil supply shock. |
| SBO | 2023-07-04 | 5 | +10.1% | 3.2 | Palm oil rallied over 5% tracking soyoil after the USDA report, confirming the soyoil surge and cross-market spillover. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2021-02-22 | [USDA supply outlook pushes soybeans to second session of gains - Markets - Business Recorder](https://feedsoft.ai/events/48687-usda-supply-outlook-pushes-soybeans-to-second-session-of-gains-markets-business.md) | +2.0% | +2.8% |
| SOY | 2021-01-15 | [Corn set for biggest weekly gain since July as global supplies tighten - Markets - Business Recorder](https://feedsoft.ai/events/49183-corn-set-for-biggest-weekly-gain-since-july-as-global-supplies-tighten-markets.md) | -8.7% | -4.5% |
| SOY | 2020-06-30 | [CBOT corn futures climb - Markets - Business Recorder](https://feedsoft.ai/events/12775-cbot-corn-futures-climb-markets-business-recorder.md) | +3.3% | +3.5% |
| SOY | 2020-07-01 | [Corn extends rally after deep cut to US planting estimate - Markets - Business Recorder](https://feedsoft.ai/events/52153-corn-extends-rally-after-deep-cut-to-us-planting-estimate-markets-business.md) | +1.2% | +0.8% |
| SOY | 2021-09-11 | [Argentina grains exchange trims soya harvest outlook - Markets - Business Recorder](https://feedsoft.ai/events/44928-argentina-grains-exchange-trims-soya-harvest-outlook-markets-business-recorder.md) | +0.7% | -2.5% |
| 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% |
| PALMOIL | 2020-08-12 | [Palm oil reverses early losses - Markets - Business Recorder](https://feedsoft.ai/events/51736-palm-oil-reverses-early-losses-markets-business-recorder.md) | +2.4% | +6.5% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40250783
- brecorder.com: https://www.brecorder.com/news/40250879

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