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Food industry buyers are turning to high-oleic soybean, canola and sunflower oils, all of which have risen in price. Sunflower seed oil, Midwest, traded at $1.13 per pound on May 13, up from 83 cents a year earlier, as the Russia-Ukraine war disrupted Ukrainian supply.
Loss of Black Sea sunflower oil supply is tightening vegetable oil markets and pushing buyers toward soybean and canola oils, supporting their prices and keeping sunflower meal costs elevated.
foodbusinessnews.netJeff GelskiJun 1, 2022Not enough comparable past events yet for a historical read.
After 110 past bullish geopolitics events, Soybean Oil moved a median +1.8% over 5 sessions (65% higher; middle half -0.7% to +3.6%), and -0.4% over 20.
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.
