--- title: "VEGOILS-Malaysian palm oil steadies as weaker Dalian olein, crude counter firmer soyoil" type: "News" locale: "en" url: "https://longbridge.com/en/news/294635621.md" datetime: "2026-08-03T03:27:35.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/294635621.md) - [en](https://longbridge.com/en/news/294635621.md) - [zh-HK](https://longbridge.com/zh-HK/news/294635621.md) --- # VEGOILS-Malaysian palm oil steadies as weaker Dalian olein, crude counter firmer soyoil KUALA LUMPUR, Aug 3 (Reuters) - Malaysian palm oil futures traded in a tight range on Monday, as softer Dalian palm olein and crude oil prices countered a slightly firmer Dalian soyoil. The benchmark palm oil contract (FCPOc3) for October delivery on the Bursa Malaysia Derivatives Exchange held its ground at 4,639 ringgit ($1,135.34) a metric ton in early trade. The contract fell 0.85% in the previous session. ### FUNDAMENTALS - Dalian’s most-active soyoil contract (DBYcv1) rose 0.05%, while its palm oil contract (DCPcv1) shed 0.65%. Soyoil prices on the Chicago Board of Trade (BOcv1) were down 0.33%. - Palm oil tracks the price movements of rival edible oils, as it competes for a share of the global vegetable oils market. - Oil prices tumbled $4 a barrel after U.S. President Donald Trump held off on a fresh attack on Iran, seeking to reach a quick deal that would halt Tehran’s nuclear ambitions and reopen the Strait of Hormuz. (O/R) - Weaker crude oil futures make palm a less attractive option for biodiesel feedstock. - The ringgit (MYR=) , palm’s currency of trade, weakened 0.12% against the dollar, making the commodity slightly cheaper for buyers holding foreign currencies. - Cargo surveyors estimated that exports of Malaysian palm oil products for July rose between 12.1% and 19.5% from a month earlier. ### MARKET NEWS - Oil prices skidded and stocks wobbled as hopes of peace in the Middle East grew, while the yen jumped suddenly after the U.S. and Japan confirmed joint intervention to prop up the frail currency. (MKTS/GLOB) ### DATA/EVENTS 0750 France S&P Manufacturing PMI July 0755 Germany S&P Manufacturing PMI July 0800 EU S&P MFG Final PMI July 0830 UK S&P GLOBAL MANUFACTURING PMI July 1345 US S&P Global Mfg PMI Final July 1400 US ISM Manufacturing PMI July ($1 = 4.0860 ringgit) ### Related Stocks - [UCO.US](https://longbridge.com/en/quote/UCO.US.md) - [SCO.US](https://longbridge.com/en/quote/SCO.US.md) - [USO.US](https://longbridge.com/en/quote/USO.US.md) - [BNO.US](https://longbridge.com/en/quote/BNO.US.md) - [XLE.US](https://longbridge.com/en/quote/XLE.US.md) - [VDE.US](https://longbridge.com/en/quote/VDE.US.md) - [IXC.US](https://longbridge.com/en/quote/IXC.US.md) - [XOP.US](https://longbridge.com/en/quote/XOP.US.md) - [IEO.US](https://longbridge.com/en/quote/IEO.US.md) - [IEZ.US](https://longbridge.com/en/quote/IEZ.US.md) - [OIH.US](https://longbridge.com/en/quote/OIH.US.md) - [XES.US](https://longbridge.com/en/quote/XES.US.md) - [PXJ.US](https://longbridge.com/en/quote/PXJ.US.md) - [CRAK.US](https://longbridge.com/en/quote/CRAK.US.md) - [ERX.US](https://longbridge.com/en/quote/ERX.US.md) - [ERY.US](https://longbridge.com/en/quote/ERY.US.md) - [DUG.US](https://longbridge.com/en/quote/DUG.US.md) - [MLPA.US](https://longbridge.com/en/quote/MLPA.US.md) - [03097.HK](https://longbridge.com/en/quote/03097.HK.md) - [03175.HK](https://longbridge.com/en/quote/03175.HK.md) ## Related News & Research - [VEGOILS-Palm falls on weak rival oils, crude](https://longbridge.com/en/news/293999717.md) - [VEGOILS-Palm gains for second session on firmer crude, rival edible oils](https://longbridge.com/en/news/294345414.md) - [VEGOILS-Palm rebounds on strong crude, palm olein, Chicago soyoil](https://longbridge.com/en/news/294142177.md) - [VEGOILS-Palm extends losses on weaker crude, soyoil; robust demand limits fall](https://longbridge.com/en/news/294017321.md) - [VEGOILS-Palm slips on weaker soyoil, but still set for second monthly gain](https://longbridge.com/en/news/294456141.md)