# Palm and soybean oil futures rose 8.5-10% in two sessions, following soybean prices

> Palm and soybean oil futures rose 8.5% to 10% over two sessions after USDA cut US soybean acreage estimates. Chicago soyoil reached $1,400 a tonne, and US soybean inventories as of June 1 were 17% lower than a year earlier. Sunflower oil also rose 1.7% in sympathy.

- Date: 2023-07-04 · published 2023-07-04T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/6545-palm-and-soybean-oil-futures-rose-8-5-10-in-two-sessions-following-soybean
- 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

Lower US acreage and stocks tighten supply, and processors are importing Brazilian soybeans to fill the gap. The rally lifts competing vegetable oils such as palm and sunflower.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBO | 2023-07-04 | 5 | +10.1% | 3.2 | Soyoil and palm oil rose 8.5-10% over two sessions after the USDA acreage cut, which directly describes the move. |
| PALMOIL | 2023-07-03 | 1 | +11.9% | 4.9 | Reports palm and soyoil gains of 8.5-10% over two sessions after the USDA acreage cut, confirming the substitution-linked supply-concern rally, though dated after the move. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2026-06-19 | [Soybean meal and oil: global demand sustains market, but excess supply pressures prices in the second half of the year](https://feedsoft.ai/events/18880-soybean-meal-and-oil-global-demand-sustains-market-but-excess-supply-pressures.md) | -0.0% | +0.3% |
| 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 | 2026-02-04 | [Palm Oil Prices Stabilize As Exports Rise And Stocks Fall - Finimize](https://feedsoft.ai/events/4667-palm-oil-prices-stabilize-as-exports-rise-and-stocks-fall-finimize.md) | -1.6% | -0.6% |
| PALMOIL | 2017-10-19 | [Mistry cuts palm oil production forecast, sees prices climbing](https://feedsoft.ai/events/68562-mistry-cuts-palm-oil-production-forecast-sees-prices-climbing.md) | +0.6% | +1.4% |
| PALMOIL | 2021-01-05 | [Malaysian palm oil stocks forecast lower, keeping prices high in 2021 - Markets - Business Recorder](https://feedsoft.ai/events/4995-malaysian-palm-oil-stocks-forecast-lower-keeping-prices-high-in-2021-markets.md) | +1.3% | -10.0% |
| SBO | 2023-01-13 | [US soybean crop and oil prices rise after cuts in the 2022/23 MY crop estimate](https://feedsoft.ai/events/37865-us-soybean-crop-and-oil-prices-rise-after-cuts-in-the-2022-23-my-crop-estimate.md) | -1.6% | -9.4% |
| SBO | 2023-11-14 | [CBOT Soybean Oil Rises, Argentina Forward Prices Up](https://feedsoft.ai/events/33254-cbot-soybean-oil-rises-argentina-forward-prices-up.md) | +2.6% | -1.2% |
| SBO | 2022-06-28 | [US soyabean oil prices rise due to tight supply and surging energy…](https://feedsoft.ai/events/41032-us-soyabean-oil-prices-rise-due-to-tight-supply-and-surging-energy.md) | -6.8% | -13.9% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/palm-and-soybean-oil-futures-rose-8-5-10-in-two-sessions-following-soybean-prices/

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