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FAO data show global vegetable oil prices rose 0.8 percent month on month in August 2024, led by palm oil, while soyoil fell on a positive outlook for the 2024/25 soybean harvest. India's soyoil imports rose 16 percent to a two-year high in August as buyers substituted for pricier rapeseed oil.
US crushing capacity is expanding to meet renewable diesel demand.
Strong Indian soyoil import demand supports export prices, while US crush expansion increases future soymeal output, a mixed signal for soybean and meal prices.
tridge.comLei WangSep 13, 2024Not enough comparable past events yet for a historical read.
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.
