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The US FAS cut its 2021-22 Malaysian palm oil export forecast to 16.22 million tonnes from 17.22 million, citing lower output. It also said palm's discount to soybean oil has nearly disappeared, falling to 2% against a 10-year average of 12%.
Reduced Malaysian exports tighten global vegoil supply and are expected to keep palm prices elevated, with importers such as India, China and the EU possibly cutting purchases.
spglobal.comJan 12, 2022After 149 past bullish report events, Palm Oil moved a median +0.5% over 5 sessions (57% higher; middle half -1.1% to +1.8%), and +0.8% over 20.
After 296 past bullish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), and -0.5% 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.
