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Crude palm futures in Malaysia rose almost 5% and CBOT soyoil spiked in early Asian trade on Oct 31 after Russia said it would no longer take part in the UN-brokered Black Sea grain corridor. CBOT soyoil traded up more than 2% near 73.4 cents per pound.
Palm, soyoil and sunflower oil are linked as competing vegetable oils.
Russia's exit from the corridor raises doubts over Ukrainian sunflower oil exports, lifting competing palm and soyoil prices in the near term.
ukragroconsult.com1 nov 2022Tras 62 eventos alcista de geopolítica pasados, Aceite de palma se movió una mediana de +2,5 % en 5 sesiones (74% al alza; mitad central entre -0,1 % y +5,8 %), y +4,0 % en 20.
Tras 110 eventos alcista de geopolítica pasados, Aceite de soja se movió una mediana de +1,8 % en 5 sesiones (65% al alza; mitad central entre -0,7 % y +3,6 %), y -0,4 % en 20.
Todavía no hay suficientes eventos comparables pasados para una lectura histórica.
Variaciones de la referencia de cada materia prima desde el último cierre antes del evento. Las lecturas históricas agrupan eventos pasados del mismo tipo; describen lo ocurrido, no lo que ocurrirá. No es asesoramiento de inversión.
Reports palm rose almost 5% and soyoil spiked on Oct 31 after Russia's withdrawal, with vegetable oils substituting for each other, directly describing the move.
Explains the mechanism: the Black Sea corridor suspension lifted soyoil and sunflower oil, and palm followed as a competing vegetable oil (substitution and sentiment).
