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Brazil exported 709k tonnes of soybean oil from January to April 2022, the second-largest volume for that period since 1997, with 507k tonnes going to India. Abiove expects 1.8m tonnes of exports in 2022 as the biodiesel blending mandate has been cut to 10% from 14%.
Strong export demand from India, driven by tight palm and sunflower oil supplies, supports soybean oil prices, while lower domestic biodiesel use keeps more oil available for export.
czapp.comDaniele Siqueira (AgRuralMay 24, 2022After 224 past bullish trade events, Soybean Oil moved a median +0.4% over 5 sessions (54% higher; middle half -1.5% to +2.1%), and -0.5% over 20.
After 133 past bullish trade events, Palm Oil moved a median +0.7% over 5 sessions (64% higher; middle half -0.8% to +2.3%), and +1.7% 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.
