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US soybean oil exports fell to their lowest level in 24 years in the first seven months of the year, according to government data. Companies are pursuing low-carbon fuel incentives in California, the Pacific Northwest and Canada, increasing competition for soy oil against domestic food uses.
Lower exports leave more soybean oil at home, but biofuel competition is tightening domestic supplies available for food, supporting higher prices.
datamarnews.comSylvia SchandertSep 13, 2021After 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.
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.
