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StoneX's Matt Ammermann told the Soy Connext summit that global vegetable oil demand exceeds current supply, but supply is growing faster than demand. He forecasts record vegetable oil ending stocks this year, while soybean oil could get tighter as biofuel incentives grow.
Forecast record ending stocks is bearish for vegetable oil prices, while expected tightness in soyoil from biofuel demand is supportive, so the net effect on soyoil is mixed.
ussec.orgAug 29, 2022Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
