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Platts assessed Argentine soybean oil at $1,132.30/mt and Brazilian soybean oil at $1,138.91/mt on March 11, both below Indonesian and Indian palm oil benchmarks. The inversion is a rare occurrence, with palm oil supported by the energy-led rally and biofuel policy.
Energy-driven biodiesel demand is lifting palm oil more than soyoil, which could push buyers toward soybean oil and widen the discount if the conflict continues.
spglobal.comPhillip HerringMar 12, 2026After 110 past bullish geopolitics events, Soybean Oil moved a median +1.8% over 5 sessions (65% higher; middle half -0.7% to +3.6%), and -0.4% over 20.
After 62 past bullish geopolitics events, Palm Oil moved a median +2.5% over 5 sessions (74% higher; middle half -0.1% to +5.8%), and +4.0% over 20.
After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% 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.
