# VEGOILS-Palm oil rises nearly 4% to two-month high as crude, soyoil rally By Reuters

> Malaysian palm oil futures ended nearly 4% higher on March 8, 2021, reaching 3,878 ringgit a tonne, tracking sharp gains in soyoil and crude oil and a large US stimulus package. Palm also touched a 10-year intraday high, while China's African swine fever outbreak was seen possibly raising its imports.

- Date: 2021-03-08 · published 2021-03-08T12:00:00.000Z
- Category: macro · region Malaysia · magnitude medium
- Page: https://feedsoft.ai/events/6562-vegoils-palm-oil-rises-nearly-4-to-two-month-high-as-crude-soyoil-rally-by
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Lean Hogs](https://feedsoft.ai/c/HOGS.md)

## Why it matters

Stronger crude and soyoil prices lift palm oil through biodiesel and substitution links, raising vegetable oil costs for feed formulators. African swine fever in China could lift import demand for feed ingredients.

## Read by commodity

- SBO: bullish ▲
- WTI: bullish ▲
- HOGS: bullish ▲
- PALMOIL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBO | 2021-03-08 | 1 | +6.0% | 4.9 | Same-day report ties soyoil gains to a crude oil rally and US stimulus, indicating the energy and macro channel (biofuel input cost, sentiment) that drove soyoil and palm higher. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2021-02-15 | [VEGOILS-Palm reverses losses, up 2% on crude oil jump By Reuters](https://feedsoft.ai/events/48725-vegoils-palm-reverses-losses-up-2-on-crude-oil-jump-by-reuters.md) | +3.3% | +14.7% |
| PALMOIL | 2023-04-03 | [Palm posts biggest jump in two months after crude oil rally - Markets - Business Recorder](https://feedsoft.ai/events/36512-palm-posts-biggest-jump-in-two-months-after-crude-oil-rally-markets-business.md) | -2.6% | -15.2% |
| PALMOIL | 2026-05-28 | [Palm Oil Prices Rise As Crude Oil Gains - Finimize](https://feedsoft.ai/events/19380-palm-oil-prices-rise-as-crude-oil-gains-finimize.md) | +3.1% | -2.0% |
| PALMOIL | 2025-04-21 | [Ringgit soars to nearly six-month high due to weak sentiments over US assets \| The Star](https://feedsoft.ai/events/25386-ringgit-soars-to-nearly-six-month-high-due-to-weak-sentiments-over-us-assets.md) | +0.3% | -3.8% |
| PALMOIL | 2026-03-06 | [Palm oil prices rise 4% as higher energy costs lift biofuel spread margins \| S&P Global](https://feedsoft.ai/events/20269-palm-oil-prices-rise-4-as-higher-energy-costs-lift-biofuel-spread-margins-s-and.md) | +6.0% | +11.5% |
| SBO | 2021-02-15 | [VEGOILS-Palm reverses losses, up 2% on crude oil jump By Reuters](https://feedsoft.ai/events/48725-vegoils-palm-reverses-losses-up-2-on-crude-oil-jump-by-reuters.md) | +2.0% | +19.5% |
| SBO | 2023-04-03 | [Palm posts biggest jump in two months after crude oil rally - Markets - Business Recorder](https://feedsoft.ai/events/36512-palm-posts-biggest-jump-in-two-months-after-crude-oil-rally-markets-business.md) | -2.4% | -7.0% |
| SBO | 2016-12-14 | [Vegetable oil prices follow petroleum prices higher after OPEC refuses to boost production  : The Daily Digest](https://feedsoft.ai/events/73554-vegetable-oil-prices-follow-petroleum-prices-higher-after-opec-refuses-to-boost.md) | -1.4% | -2.0% |

## Sources

- in.investing.com: https://in.investing.com/news/vegoilspalm-oil-rises-nearly-4-to-twomonth-high-as-crude-soyoil-rally-2638704

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