Loading…
South American soybean oil FOB port basis fell to record lows on August 17, with Brazil's Paranaguá at a record low for a front-month loading and Argentina's Up River at its lowest since assessments began. Weak export demand, selling pressure, unattractive Indian import margins and record Chinese portside stocks weighed on differentials.
Cheap South American oil makes competing edible oils less attractive for key buyers and signals weak global demand for soybean oil, which pressures soy oil prices and crush economics.
spglobal.comJose Roberto GomesAug 18, 2023After 152 past bearish trade events, Soybean Oil moved a median -0.2% over 5 sessions (47% higher; middle half -2.1% to +2.1%), and -0.1% 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.
