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UFOP reported that rapeseed, soybean and sunflower oil prices converged in July 2016. Soybean and sunflower oil were sluggish on abundant feedstock, while rapeseed oil edged up.
Palm oil faces downward pressure from record Southeast Asian output expected in 2016/17.
A rise in the EU greenhouse gas cap to 4% in 2017 is expected to lift biodiesel demand and support rapeseed oil. Record palm output is bearish for vegetable oil prices more broadly.
biofuelsdigest.comJim LaneAug 14, 2016After 400 past bearish policy events, PALMOIL moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.1%), and +0.2% over 20.
After 196 past neutral policy events, SBO moved a median +0.1% over 5 sessions (52% higher; middle half -1.6% to +2.0%), and -0.5% over 20.
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.
