# Vegoils price commentary: CME soyoil futures down on sharply lower energy prices; CPO at highest in over a week - Fastmarkets

> 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.

- Date: 2026-07-28 · published 2026-07-28T12:00:00.000Z
- Category: weather · region Southeast Asia · magnitude medium
- Page: https://feedsoft.ai/events/8279-vegoils-price-commentary-cme-soyoil-futures-down-on-sharply-lower-energy-prices
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

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.

## Read by commodity

- SBO: bearish ▼
- WTI: bearish ▼
- PALMOIL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBO | 2026-07-31 | 5 | -7.6% | -2.9 | CME soyoil fell sharply on 2026-07-28 as crude oil dropped, cutting biofuel-linked demand value and input-cost support for soyoil. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2026-08-01 | [El Niño 2026: Converging Pressures on Vegetable Oil Markets - Center for Commercial Agriculture](https://feedsoft.ai/events/18245-el-nino-2026-converging-pressures-on-vegetable-oil-markets-center-for.md) | +2.0% | +4.5% |
| PALMOIL | 2019-12-24 | [Sharp spike in agro commodities over tepid farm output, high import prices \| Commodity - Food & Edible Oils - Business Standard](https://feedsoft.ai/events/10020-sharp-spike-in-agro-commodities-over-tepid-farm-output-high-import-prices.md) | +1.2% | +6.1% |
| PALMOIL | 2021-01-04 | [CPO futures end higher, hit highest level since Feb 2011 \| Malay Mail](https://feedsoft.ai/events/4998-cpo-futures-end-higher-hit-highest-level-since-feb-2011-malay-mail.md) | +10.0% | -0.2% |
| PALMOIL | 2023-07-11 | [Palm oil price trends – The effect of extreme weather - Fastmarkets](https://feedsoft.ai/events/35142-palm-oil-price-trends-the-effect-of-extreme-weather-fastmarkets.md) | +1.3% | -0.5% |
| PALMOIL | 2023-03-02 | [Palm ends at highest since Nov on flooding woes, weaker ringgit - Markets - Business Recorder](https://feedsoft.ai/events/36952-palm-ends-at-highest-since-nov-on-flooding-woes-weaker-ringgit-markets-business.md) | -0.0% | -5.3% |
| SBO | 2024-07-31 | [Falling soybean oil prices weigh on other vegetable oil markets](https://feedsoft.ai/events/29357-falling-soybean-oil-prices-weigh-on-other-vegetable-oil-markets.md) | -1.9% | -2.3% |
| SBO | 2020-07-11 | [CBOT soyabean futures higher - Markets - Business Recorder](https://feedsoft.ai/events/11496-cbot-soyabean-futures-higher-markets-business-recorder.md) | +6.4% | +11.5% |
| SBO | 2024-10-28 | [Wkly Futures Market Summary For 10.28.24 - ADM Investor Services](https://feedsoft.ai/events/4680-wkly-futures-market-summary-for-10-28-24-adm-investor-services.md) | +3.9% | +2.1% |

## Sources

- fastmarkets.com: https://www.fastmarkets.com/insights/vegoils-price-commentary-cme-soyoil-futures-down-on-sharply-lower-energy-prices-cpo-at-highest-in-over-a-week/

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