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Vegetable oil prices came under pressure as falling crude oil reduced biofuel demand, while Malaysian palm oil futures fell 2% on higher output and forecasts of increased production next year. Chicago soybean oil futures rose 1.4% on expected holiday fuel and food demand, and Egypt's GASC tender for 10,000 tons of sunflower oil and 30,000 tons of soybean oil was scheduled for November 25.
Lower crude and rising palm output weigh on vegetable oil values, while the Egyptian tender offers near-term support for soyoil and sunflower oil prices.
ukragroconsult.comNov 24, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
