Loading…
Malaysian palm oil futures fell over 1% on Friday, weighed by weaker Dalian and Chicago soyoil, though the November contract gained 1.5% for the week. Indonesia set its September crude palm oil export reference price 13% higher, lifting the implied export tax from $93 to $166 per tonne, and the EPA reportedly recommended retroactively lowering 2020 biofuel blending mandates.
A higher Indonesian export tax tightens export flows and supports palm prices, while a possible US biofuel mandate cut would reduce soyoil demand and weigh on vegetable oil values, including soybean oil and palm oil.
brecorder.comReutersAug 25, 2021brecorder.comReutersAug 27, 2021After 513 past neutral policy events, Palm Oil moved a median 0.0% over 5 sessions (50% higher; middle half -1.6% to +1.4%), and -0.1% over 20.
After 351 past bearish policy events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.7% to +1.8%), and -0.2% 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.
