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The Malaysian Palm Oil Council discusses drought in South America and its implications for palm oil trade, noting Brazil and Argentina's 2022 crop production is expected to affect global markets. The page also includes palm oil price and weather event references.
South American drought reduces soybean and other oilseed supply, which can support vegetable oil prices and lift palm oil demand as a substitute.
mpoc.org.myJun 28, 2022After 181 past bullish weather events, Palm Oil moved a median +0.5% over 5 sessions (56% higher; middle half -0.9% to +1.9%), and +0.3% over 20.
After 184 past bullish weather events, Soybean Oil moved a median +0.3% over 5 sessions (53% higher; middle half -1.9% to +2.4%), 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.
