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Argentina's rising soybean oil exports are not expected to pressure prices as usual. US soybean oil shipments have been falling because booming domestic biofuel demand is absorbing supply.
The export gains are therefore not seen as a major bearish factor.
Argentine export growth would normally weigh on prices, but reduced US export availability offsets that effect. Soyoil prices stay supported by domestic biofuel demand.
producer.comadminAug 5, 2021After 81 past neutral trade events, Soybean Oil moved a median +0.3% over 5 sessions (56% higher; middle half -1.6% to +1.8%), and +0.9% 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.
