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Soybean meal futures recovered nearly all recent losses to close at $429.90 per short ton on May 23, while soybean oil settled at $0.8093 per pound. Indonesia announced an eventual end to its palm oil export ban, then clarified it would keep 10 million tonnes of domestic stocks.
Uncertainty over how much Indonesian palm oil stays off export markets keeps vegetable oil prices volatile, supporting soybean oil and, by extension, crush margins and meal supply.
mckeany-flavell.comNicole ThomasMay 23, 2022After 842 past bullish policy events, SBO moved a median +0.2% over 5 sessions (52% higher; middle half -1.6% to +2.1%), and -0.5% over 20.
After 206 past neutral policy events, SBM moved a median -0.4% over 5 sessions (44% higher; middle half -2.3% to +1.8%), and -0.7% over 20.
After 548 past bullish policy events, PALMOIL moved a median +0.4% over 5 sessions (61% higher; middle half -0.7% to +2.1%), and +0.9% 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.
