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UOB Kay Hian Research says La Nina does not automatically lift palm oil prices, since the effect depends on soybean crop damage, soybean oil stock-usage, palm supply-demand and global demand disruptions. The analysts maintain a market weight rating, noting weak demand and accelerating production.
A La Nina that damages US or South American soybeans could lift soybean oil and palm oil prices, but weak demand and rising palm output may limit the rally for buyers of palm-based feed ingredients.
theedgemalaysia.comNov 2, 2026After 19 past neutral weather events, Palm Oil moved a median +0.2% over 5 sessions (53% higher; middle half -0.4% to +1.1%), and +2.4% over 20.
After 18 past neutral weather events, Soybean Oil moved a median +2.6% over 5 sessions (72% higher; middle half -0.4% to +3.5%), and +3.6% over 20.
After 324 past neutral weather events, Soybeans moved a median +0.0% over 5 sessions (52% higher; middle half -1.4% to +1.7%), and +0.7% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
