# Palm tracks Chicago soyoils, crude oil higher

> Malaysian palm oil futures opened up 2.01% at 4,269 ringgit per ton on Tuesday, snapping three sessions of losses. Support came from firmer crude and Chicago soyoil, plus a weaker ringgit, after Monday's drop to a low since January 24.

- Date: 2025-04-08 · published 2025-04-08T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/9632-palm-tracks-chicago-soyoils-crude-oil-higher
- 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), [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

Stronger crude improves palm's biodiesel attractiveness and a weaker ringgit makes palm cheaper for foreign buyers, supporting prices in the near term.

## Read by commodity

- SBO: bullish ▲
- WTI: bullish ▲
- USDMYR: bullish ▲
- PALMOIL: bullish ▲

## Sources

- tradingview.com: https://www.tradingview.com/news/reuters.com,2025:newsml_L2N3QM035:0-palm-tracks-chicago-soyoils-crude-oil-higher/

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