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December CBOT soybean oil futures fell about 5% over two sessions to $954/t, losing the prior two weeks' gains. Palm oil on Bursa Malaysia dropped 3.8% on Monday, and Ukrainian sunflower oil prices held at $1140-1160/t amid limited supply.
Uncertainty over US green energy programs pressured soyoil, while reduced sunflower supply from the war in Ukraine supports vegetable oil prices and premiums. Higher vegoil prices tighten feed fat and raise input costs for feed buyers.
ukragroconsult.comNov 21, 2024
tridge.comVictor LangatNov 21, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
December CBOT soybean oil fell about 5% over two sessions around Nov 18-20, giving up two weeks of gains, and palm oil weakness added pressure, directly matching the 5-day decline.
Soybean oil futures were already sliding about 5% over two sessions into late November, and the selling momentum and pressure on competing oils plausibly carried into the Nov 25 drop.
