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Egypt's state agency GASC received offers in an international tender to buy at least 30,000 tonnes of soyoil, with the lowest offer around $1,072 a tonne c&f for immediate payment. Cargill offered soyoil at $1,080 for 180-day payment, and sunflower oil offers were also submitted, with no purchase made yet.
The tender's price levels give buyers a read on import demand for vegetable oils in North Africa, and the pending award will show whether Egypt is willing to pay current high prices.
brecorder.comReutersFeb 11, 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.
