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Rapeseed prices above 750 euros per tonne in Paris reflect a major Canadian crop loss of about 50% from heat, with Canada's exports falling in step. Soy and palm oil prices are more than double earlier years, supported by crude oil and biofuel demand, while soybean meal has rebounded to about $400 per short ton on renewed Chinese demand.
Tight global oilseed supply and high vegetable oil prices push up the cost of meal alternatives, while a shortfall in canola reduces available canola meal for feed. Prices are expected to ease in the second half of 2022 but stay above average.
zmp.deDec 31, 2021Not enough comparable past events yet for a historical read.
After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% over 20.
After 181 past bullish weather events, Palm Oil moved a median +0.5% over 5 sessions (56% higher; middle half -0.9% to +1.9%), and +0.3% over 20.
After 184 past bullish weather events, Soybean Oil moved a median +0.3% over 5 sessions (53% higher; middle half -1.9% to +2.4%), 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.
