# Oils and Oilseeds: Demand Divergence, Strong Oil Weak Meal May Persist

> October saw oil and oilseed prices move lower, with soy and rapeseed complexes stronger than palm oil and oil stronger than meal. Attention turns to US soybean demand, China's purchases ahead of the November 4 midterms and APEC on November 18, and South American crop estimates. Palm, Russia-Ukraine and China vegetable oil stocks are all high.

- Date: 2026-11-04 · published 2026-11-04T21:14:14.459Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/80536-oils-and-oilseeds-demand-divergence-strong-oil-weak-meal-may-persist
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Stronger soyoil relative to soymeal reflects biofuel crush margins and reduced meal demand from weakening hog numbers. Possible resumption of Black Sea shipments and Indonesian export tariff cuts add supply pressure on vegetable oils.

## Read by commodity

- SBM: bearish ▼
- SBO: bullish ▲
- SOY: neutral
- PALMOIL: bearish ▼

## Sources

- cnoil.com.cn: https://www.cnoil.com.cn/hyzx/9337.html

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