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Soybean oil demand is being pulled by supply disruptions in vegetable oils, including Canadian drought, COVID restrictions in Malaysia and an Indonesian export ban, and the war in Ukraine disrupting sunflower oil flows. A USSEC official says these disruptions will keep shifting oil prices.
Tight global vegetable oil supplies support soyoil and palm oil prices as buyers switch to soy oil, though the article is a general commentary without a new event.
foodengineeringmag.comBy: Alyse Thompson-RichardsJul 21, 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.
