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Cooking oil prices have nearly tripled since 2020, with wholesale food costs up 15.1 percent year over year. The article links the surge to war, weather and Covid-19 disruptions, and to competing demand for soy and corn in fuel use.
Tight vegetable oil and grain supplies from geopolitical and weather shocks, plus biofuel competition, keep soybean oil and corn prices at high levels for feed and food buyers.
thecounter.orgMatthew SedaccaMar 31, 2022After 110 past bullish geopolitics events, Soybean Oil moved a median +1.8% over 5 sessions (65% higher; middle half -0.7% to +3.6%), and -0.4% over 20.
After 323 past bullish geopolitics events, Corn moved a median +0.5% over 5 sessions (57% higher; middle half -1.5% to +2.9%), and +0.9% 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.
