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Mysteel oils market daily: Vegetable oils surged strongly, with rapeseed oil following the trend of ICE canola

Source: Mysteel May 20, 2026 09:35
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Plant Oil Demand Price Supply
Yesterday, vegetable oil futures saw a significant price increase, with rapeseed oil leading the gains after the midday session. Market attention turned to the cold and rainy weather over the long weekend in western Canada, which delayed rapeseed planting progress and weighed on crop growth prospects. At the same time, the market focused on the downward revision of EU rapeseed yields for 2026 due to late frosts during the flowering period and drought conditions. On the palm oil front, market sources indicated that Indonesia is preparing to establish a new state-linked export agency that will centralize export management for selected commodities, including coal, crude palm oil (CPO), and minerals. This raised market concerns over potential price control in the palm oil sector. Malaysian palm oil futures and Dalian palm olein prices rose.

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