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USDA's February estimates left the global vegetable oil balance nearly unchanged for 2022/23 despite lower Argentine soybean output. Sunflower oil supplies rose 800,000 tonnes to 9.73 million, and India's sunflower oil imports more than doubled in January, led by Ukraine.
Higher sunflower oil supplies and strong Indian import demand keep global vegetable oil prices balanced, limiting upside from the Argentine soybean cut.
tridge.comNur HameedFeb 21, 2023After 114 past neutral report events, Soybean Oil moved a median +0.1% over 5 sessions (52% higher; middle half -1.7% to +1.4%), and +0.5% over 20.
After 66 past neutral report events, Palm Oil moved a median +0.2% over 5 sessions (58% higher; middle half -0.4% to +2.0%), and +2.2% 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.
