Loading…
USDA's FAS report says palm oil is again trading at a discount to soybean oil, with the gap narrowing to about $200 a tonne by end-January. It expects that discount to persist given lower Argentine output and strong US biodiesel demand.
Indonesia's B35 biodiesel mandate could reduce exportable palm supply and narrow the discount.
A persistent palm discount keeps palm oil competitive in feed and food markets, capping soybean oil gains. Indonesia's B35 mandate could tighten palm exports and lift palm prices later.
thehindubusinessline.comBL Mangaluru BureauFeb 9, 2023After 96 past bearish report events, Palm Oil moved a median -0.1% over 5 sessions (48% higher; middle half -1.3% to +1.6%), and -0.9% 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.
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.
