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Trump announced plans for additional tariffs of 10% on Chinese goods and 25% on goods from Canada and Mexico. The Canadian dollar fell to a four-year low and the Mexican peso to its weakest since 2022, while December soyoil futures rose about 3%.
Tariffs on Canadian goods could cut canola oil supplies used in US biodiesel, supporting soyoil as a substitute. The weaker Canadian and Mexican currencies also affect import costs and cross-border feed trade.
tridge.comVictor LangatNov 26, 2024After 224 past bullish trade events, Soybean Oil moved a median +0.4% over 5 sessions (54% higher; middle half -1.5% to +2.1%), and -0.5% over 20.
After 133 past bullish trade events, Palm Oil moved a median +0.7% over 5 sessions (64% higher; middle half -0.8% to +2.3%), and +1.7% over 20.
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.
