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Global sunflower oil prices rose to about $1,700/MT FOB, a level key market operators did not expect, driven by shrinking sunflower crops, low carryover and Chinese demand. Buyers switched to cheaper vegetable oils, pushing sunoil prices down about $200/MT, and a Ukrainian memorandum set a 2020/21 export limit of 5.38 million tonnes rather than a ban.
Substitution to cheaper vegoils caps sunflower oil and meal prices, while the Ukrainian export quota limits supply to importers and keeps the Black Sea vegoil complex firm.
ukragroconsult.comApr 27, 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.
Not enough comparable past events yet for a historical read.
After 133 past bullish trade events, Palm Oil moved a median +0.7% over 5 sessions (64% higher; middle half -0.8% to +2.3%), and +1.7% 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.
