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USDA projects global oilseed output up 7% in 2023/24, led by South American soybeans and EU, Russian and Ukrainian sunflower seed. The EU has extended duty-free access for Ukrainian farm imports but kept restrictions on sunflower, while Ukrainian sunflower oil has lost $25-30/t in value.
Larger sunflower supply and EU import restrictions on Ukrainian product weigh on sunflower meal and oil values. Buyers can expect softer vegetable meal and oil prices.
tridge.comNur HameedJun 9, 2023Not enough comparable past events yet for a historical read.
After 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.
