
Soybean oil futures surged by the most since July as traders bet that Chinese used cooking oil could be included in forthcoming US tariffs. The tariffs are expected to be announced as early as next week and may cover goods produced in China such as electric vehicles.
Tariffs on Chinese used cooking oil imports would curb a feedstock flow that has been competing with US soybean oil for biofuel demand, supporting soyoil and the soybean complex.
After 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 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% 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.