# Crude oil, Indonesian trade policy gyrations drive soybean oil prices - McKeany-Flavell

> 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.

- Date: 2022-05-23 · published 2022-05-23T12:00:00.000Z
- Category: policy · region Indonesia · magnitude medium
- Page: https://feedsoft.ai/events/41479-crude-oil-indonesian-trade-policy-gyrations-drive-soybean-oil-prices-mckeany
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

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.

## Read by commodity

- SBM: neutral
- SBO: bullish ▲
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2021-12-13 | [WASDE, EPA biofuel news drive soybean market - McKeany-Flavell](https://feedsoft.ai/events/9258-wasde-epa-biofuel-news-drive-soybean-market-mckeany-flavell.md) | +0.9% | +5.0% |
| SBO | 2019-03-06 | [768 million pounds of soybean oil went to biodiesel in December - McKeany-Flavell](https://feedsoft.ai/events/60179-768-million-pounds-of-soybean-oil-went-to-biodiesel-in-december-mckeany-flavell.md) | +0.2% | -2.6% |
| SBO | 2020-08-04 | [Record soybean oil use for biodiesel in May - McKeany-Flavell](https://feedsoft.ai/events/51685-record-soybean-oil-use-for-biodiesel-in-may-mckeany-flavell.md) | -1.5% | +4.1% |
| SBO | 2022-11-09 | [Indonesia to Boost Biodiesel Production With Palm Oil Considering High Crude Oil Prices](https://feedsoft.ai/events/15778-indonesia-to-boost-biodiesel-production-with-palm-oil-considering-high-crude.md) | +0.1% | -12.9% |
| SBO | 2025-11-14 | [Palm oil prices to spike in 2026 as Indonesia pushes biofuel policy - Nikkei Asia](https://feedsoft.ai/events/22047-palm-oil-prices-to-spike-in-2026-as-indonesia-pushes-biofuel-policy-nikkei-asia.md) | +1.6% | +0.5% |
| SBM | 2020-08-04 | [Record soybean oil use for biodiesel in May - McKeany-Flavell](https://feedsoft.ai/events/51685-record-soybean-oil-use-for-biodiesel-in-may-mckeany-flavell.md) | -1.7% | +6.1% |
| SBM | 2020-03-18 | [Indonesia rations purchases of staples, eyes fuel price cuts](https://feedsoft.ai/events/7553-indonesia-rations-purchases-of-staples-eyes-fuel-price-cuts.md) | +11.3% | -2.0% |
| SBM | 2021-08-30 | [Biofuel rumors loom over soybean market - McKeany-Flavell](https://feedsoft.ai/events/45593-biofuel-rumors-loom-over-soybean-market-mckeany-flavell.md) | -3.1% | -2.9% |

## Sources

- mckeany-flavell.com: https://www.mckeany-flavell.com/crude-oil-indonesian-trade-policy-gyrations-drive-soybean-oil-prices-05-23-22/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.