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Chicago soyoil fell 4.7% ahead of USDA acreage and stocks reports, with traders reducing positions amid weak grain prices and soft physical demand. Malaysian palm oil also fell on forecasts of higher March output, and Dalian palm and soybean futures declined.
Expected larger palm oil output and weaker speculative demand point to lower vegetable oil prices, reducing feed fat and oilseed meal cost support.
graintrade.com.uaMar 31, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not 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.
Reports on 31 March of Chicago soyoil down 4.7% ahead of USDA reports and palm falling on expected higher March output directly describe the day's sell-off via rival-oil spillover and supply expectations.
