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Palm oil has risen nearly 30% this year on supply concerns and now trades at a near-record discount to soybean oil's 11% year-to-date decline. Soybean oil is trading at a rare discount to palm oil as global output of soybeans hit records.
The unusually wide palm-soy spread is likely to shift vegoil demand toward soybean oil, supporting SBO prices relative to palm. Feed buyers may substitute soy-based fats where the discount is wide.
reuters.comKaren BraunNov 26, 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.
