Loading…
Rapeseed and canola prices recovered about 5% after falling to pre-war levels. Indonesia decided to raise its biodiesel blend mandate from B30 to B35 from July 20, which is expected to increase domestic palm oil use.
The euro fell to a 20-year low against the dollar, supporting European rapeseed prices.
The Indonesian mandate tightens palm oil supply and lifts vegetable oil prices, which supports canola and rapeseed values. A weaker euro also makes European oilseeds cheaper for dollar buyers.
ukragroconsult.comJul 12, 2022After 548 past bullish policy events, Palm Oil moved a median +0.4% over 5 sessions (61% higher; middle half -0.7% to +2.1%), and +0.9% over 20.
After 842 past bullish policy events, Soybean Oil moved a median +0.2% over 5 sessions (52% higher; middle half -1.6% to +2.1%), and -0.5% over 20.
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.
