# World Commodities - Palm oil hits 5 month top. - Free Online Library

> Malaysian palm oil futures reached their highest level in nearly five months, gaining 0.9% to 2,283 ringgit a tonne. The rise followed a weaker ringgit and gains in US soyoil on the Chicago Board of Trade.

- Date: 2019-02-03 · published 2019-02-03T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/6965-world-commodities-palm-oil-hits-5-month-top-free-online-library
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

A weaker ringgit and firmer soyoil make palm oil cheaper for foreign buyers and lift its price in the vegetable oil complex.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2019-02-07 | 5 | +5.2% | 2.9 | Palm futures hit a near five-month high on a weaker ringgit and stronger CBOT soyoil, which are direct currency and cross-market drivers close to the 5-day window. |

## Sources

- thefreelibrary.com: https://www.thefreelibrary.com/World+Commodities+-+Palm+oil+hits+5+month+top.-a0572399524

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