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Global edible oil markets slid on expectations of a record Brazilian soybean crop and a new US plan allowing higher ethanol blending in gasoline. Soyoil fell in China to a three-month low, Malaysian palm oil futures lost more than 4%, and US bean oil dropped 2.4%, with Indonesia's biodiesel mandate expected to roll out gradually.
Lower biofuel demand expectations and larger soybean supplies weigh on vegetable oil prices, with palm oil and soyoil both affected by the slower Indonesian B40 timeline.
tridge.comVictor LangatDec 19, 2024After 351 past bearish policy events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.7% to +1.8%), and -0.2% over 20.
After 400 past bearish policy events, Palm Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.1%), and +0.2% over 20.
After 369 past bearish policy events, Soybeans moved a median -0.2% over 5 sessions (46% higher; middle half -1.7% to +1.8%), and +0.8% 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.
