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CME soyoil futures fell sharply as crude oil prices declined, while Bursa Malaysia CPO futures rose to a one-week high, closing at 4,578 ringgit per tonne. Support for palm oil came from forecasts of a strong El Niño in the second half of 2026 and expectations for Indonesia's B50 biodiesel program.
El Niño is likely to bring hot, dry weather to Southeast Asia and reduce palm output into 2027, which supports palm prices. Weaker crude pressures vegetable oils generally, so palm is diverging from soyoil.
fastmarkets.comFastmarket teamJul 28, 2026After 181 past bullish weather events, Palm Oil moved a median +0.5% over 5 sessions (56% higher; middle half -0.9% to +1.9%), and +0.3% over 20.
After 49 past bearish weather events, Soybean Oil moved a median -0.5% over 5 sessions (43% higher; middle half -3.2% to +1.0%), and -0.3% over 20.
After 17 past bearish weather events, Crude Oil (WTI) moved a median +1.4% over 5 sessions (59% higher; middle half -2.7% to +5.9%), and +2.9% 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.
CME soyoil fell sharply on 2026-07-28 as crude oil dropped, cutting biofuel-linked demand value and input-cost support for soyoil.
