Loading…
Oil World data show soybean oil exports from Argentina, Brazil, Paraguay, the US and Ukraine fell to 386,000 tons in October, a 10-year low. Exports for the first ten months of 2023 totaled 6.4 million tons, a nine-year low.
The drop is tied to Argentina's poor 2022/23 soybean crop and strong domestic biofuel demand.
Reduced export availability from major suppliers tightens global vegetable oil supply, supporting soybean oil and palm oil prices.
graintrade.com.uaNov 23, 2023
tridge.comVictor LangatNov 22, 2023After 133 past bullish trade events, PALMOIL 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.
After 224 past bullish trade events, SBO moved a median +0.4% over 5 sessions (54% higher; middle half -1.5% to +2.1%), and -0.5% 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.
