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A POC 2023 conference summary reports Oil World expects palm oil prices to improve in the second half of 2023 as supplies tighten. It forecasts Indonesian palm exports to fall on biodiesel demand, and it sees Argentina's soybean output possibly dropping to 25 million tonnes.
Lower Indonesian palm exports and a possible Argentine soy shortfall point to firmer vegetable oil and meal prices in the second half of 2023. Buyers should plan for higher edible oil costs later in the year.
lipsa.esMar 10, 2023After 149 past bullish report events, Palm Oil moved a median +0.5% over 5 sessions (57% higher; middle half -1.1% to +1.8%), and +0.8% over 20.
After 296 past bullish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), and -0.5% over 20.
After 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), 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.
