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S&P Global reports that South American soybean oil is gaining competitiveness in Asia as an energy rally widens its spread against palm oil. CBOT July soybean oil rose above 76 cents per pound in early May, its highest since November 2022.
Indonesia's B50 biodiesel mandate, due July 1, is expected to tighten palm oil export availability.
A wider soy oil-palm spread shifts Asian vegetable oil demand toward South American supply, supporting soy oil prices. Tighter palm export availability from Indonesia's B50 mandate adds further upward pressure on the vegetable oil complex.
spglobal.comPhillip HerringMay 6, 2026After 842 past bullish policy events, SBO moved a median +0.2% over 5 sessions (52% higher; middle half -1.6% to +2.1%), and -0.5% over 20.
After 548 past bullish policy events, PALMOIL moved a median +0.4% over 5 sessions (61% higher; middle half -0.7% to +2.1%), 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.
