# Palm and Soybean Oil Prices Rise Amidst Oil Market Surge - Commodity Board Europe is an independent commodity market intelligence platform providing global production data, price insights and market analysis for agricultural and food commodities.

> Palm and soybean oil prices rose as crude oil gained about 2.5% during the week. Bursa Malaysia April palm oil futures climbed 1.58% to $824 per tonne, and Malaysian palm product exports fell 11.8-14.3% in February 1-25 according to surveyors.

- Date: 2024-02-27 · published 2024-02-27T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/9424-palm-and-soybean-oil-prices-rise-amidst-oil-market-surge-commodity-board-europe
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Energy-driven gains lifted vegetable oils despite weaker export flows, so higher crude and falling Malaysian exports together point to firm palm and soyoil prices.

## Read by commodity

- SBO: bullish ▲
- WTI: bullish ▲
- WHEAT: bullish ▲
- PALMOIL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2024-03-01 | 1 | +2.4% | 3.6 | Crude oil strength lifted palm and soyoil futures on 2024-02-29, just before the 2024-03-01 move, via biodiesel/energy-linked demand and substitution, though weak February exports are a partial offset. |

## Sources

- commodity-board.com: https://commodity-board.com/palm-and-soybean-oil-prices-rise-amidst-oil-market-surge/
- commodity-board.com: https://commodity-board.com/wheat-prices-rally-as-eu-crop-forecasts-decline/

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