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The spread between South American FOB soybean oil and Indonesian FOB crude palm oil widened to a record, with Brazilian soyoil about $417/mt above CPO. Indonesian FOB CPO prices are down 25.8% year-to-date after Indonesia restarted exports following an earlier ban.
A record premium for soyoil over palm makes prompt Latin American supplies less competitive, which favours palm oil buyers and pressures soyoil demand while supporting palm prices relative to soyoil.
spglobal.comAug 9, 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.
