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Rapeseed on MATIF hit its highest since July 2023 on frost damage in northern Europe, then eased about 2% as traders took profits. The US decision not to impose duties on Chinese used cooking oil weighed on soybean oil, and USDA raised its 2024/25 world rapeseed export forecast to 17.6 million tonnes.
EU frost damage supports rapeseed prices, but a bigger export forecast and weaker soybean oil cap gains in vegetable oils.
graintrade.com.uaMay 16, 2024Not enough comparable past events yet for a historical read.
After 49 past bearish weather events, Soybean Oil moved a median -0.5% over 5 sessions (43% higher; middle half -3.2% to +1.0%), and -0.3% 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.
