# Argentine soybean oil premiums surge and surpass US bases - Fastmarkets

> Argentine soybean oil premiums have surged since early October to among the highest levels Fastmarkets has recorded since 2018, now above US Gulf bases on an FOB basis. Farmers are holding back sales, with 59% of the 2023-24 crop sold versus a 70% five-year average, while Indian buying after India's September duty hike is also cited.

- Date: 2024-10-23 · published 2024-10-23T12:00:00.000Z
- Category: market · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/11144-argentine-soybean-oil-premiums-surge-and-surpass-us-bases-fastmarkets
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Argentine oil premiums above US levels could pull export demand toward Argentine supply and tighten nearby soyoil availability, supporting soybean oil and crush-related prices.

## Read by commodity

- SBO: bullish ▲
- SOY: bullish ▲

## Sources

- fastmarkets.com: https://www.fastmarkets.com/insights/argentine-soybean-oil-premiums-surge-and-surpass-us-bases/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.