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USDA forecasts show global vegetable oil output rising 7.74 million tonnes in 2021-22, with a 2.7 million tonne surplus over consumption. An analyst expects sunflower oil to lead prices lower, dragging the complex down, including canola and soybean oil.
A projected vegetable oil surplus from a strong sunflower rebound points to weaker oilseed-based fats prices in 2021-22, which lowers the cost of oil-rich feed ingredients.
producer.comSean PrattJul 14, 2021After 146 past bearish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +1.9%), and +0.4% over 20.
After 96 past bearish report events, Palm Oil moved a median -0.1% over 5 sessions (48% higher; middle half -1.3% to +1.6%), and -0.9% over 20.
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.
