Crude Palm Oil (CPO) prices always track the Chicago Board of Trade (CBOT) soybean oil prices. Besides considering the supply and demand of palm oil, we can always get some hints by checking out what's the view of big players on the price trend of soybean.

In the week ended 1 February 2022, institutional traders had increased their net long position on CBOT soybean futures contracts. One of the reasons for the bullishness is the dry weather for Southern Brazil, the world's largest soybean-producing country.

That is the funds’ most optimistic soybean view since June 2021.