Palm oil advanced, following gains in soybeans as planting delays in the US because of rains and floods increased concern that supplies may be reduced.

The August-delivery contract increased 0.8 percent to 3,380 ringgit ($1,108) per metric ton on the Malaysia Derivatives Exchange. The price has gained 36 percent in the past year.

US soybean, corn and spring-wheat plantings are behind the pace of recent years after wet weather delayed fieldwork. Soybean planting was 41 percent complete as of May 22, the US Department of Agriculture said on Monday, compared with 22 percent a week earlier, 51 percent a year earlier and the five-year average of 51 percent.

Palm oil prices are higher because of “risks to soybean supplies in the US due to slow planting progress,” said Arhnue Tan, an investment analyst at ECM Libra Investment Bank. Palm and soybean oil are substitutes in food and fuel.

Many growing areas east of the Mississippi River, as well as sections of Missouri, Arkansas and North Dakota, received twice the normal amount of rainfall in the past 30 days, according to the National Weather Service. Flooding also inundated farms along the Mississippi River and its tributaries, leaving fields too muddy to support equipment.

“Concern about plantings in the US is actually affecting the sentiments in the international market,” said Vimala Reddy, an analyst at Karvy Comtrade. US rains have been double what are needed for the soybean crop, which is supportive for prices, she said.

China’s soybean output may fall 7.9 percent to 14 million tons as acreage declines 6.8 percent, the China National Grain and Oils Information Center said on Tuesday.

Palm oil imports by China climbed to the highest level this year in April as warmer weather boosted demand. Imports last month jumped 38 percent from March to 453,089 tons, according to data from the General Administration of Customs.

China’s “palm oil imports have increased due to the cooking oil demand during this season, which has helped drive prices up,” Reddy said.

Malaysia’s palm-oil exports rose 29.7 percent to 794,322 tons in the first 20 days of May, compared with the same period in April, surveyor Intertek said on Friday. Shipments gained 28.3 percent to 819,257 tons, Societe Generale de Surveillance said.

Near-term resistance for palm oil is at 3,425 ringgit per ton, followed by 3,445 ringgit, said Gnanasekar Thiagarajan, a director at Commtrendz Risk Management Services.

“Indicators have also started turning friendly now, hinting at upside in the coming sessions,” he said. “Our bearish view, which we have been maintaining, might need to be postponed for now.”