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Overnight, palm oil main contract rose 2.06% to 8,954 yuan/t, canola oil rose 1.42% and soybean oil rose 0.79%, with WTI and Brent crude up about 1.7% and 1.8%. Following the USDA November report, which came in bullish with lower US soybean yield and ending stocks than expected, oils rebounded for a second day.
Analysts say high inventories, weakening soybean oil state reserve auction uptake and softer Malaysian exports limit the rally.
The USDA surprise supports soybean oil and palm oil prices, but high palm and soyoil stocks and fading export demand cap the upside for feed-related fats. Medium-term support remains from El Niño-related output risk and biodiesel policy.
goodsfu.10jqka.com.cnNov 12, 2026Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
