# Palm slips more than 3% on weaker Dalian contracts and crude oil - Markets - Business Recorder

> Malaysian palm oil futures fell more than 3% on Tuesday after trading resumed from a holiday, with the August contract closing 156 ringgit lower at 3,920 ringgit per ton. Weakness in Dalian soyoil and crude oil prices weighed on the market.

- Date: 2024-06-04 · published 2024-06-04T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/8034-palm-slips-more-than-3-on-weaker-dalian-contracts-and-crude-oil-markets
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Weaker crude reduces palm's appeal as biodiesel feedstock and weaker rival oils pull prices lower, easing vegetable oil costs for feed buyers.

## Read by commodity

- SBO: bearish ▼
- BRENT: bearish ▼
- PALMOIL: bearish ▼

## Sources

- brecorder.com: https://www.brecorder.com/news/40306822

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