# The sharp rise in prices of soybean oil will support prices for sunflower oil and sunflower

> Chicago March soybean futures rose 3.7% to $508.5/t and soybean oil climbed 3.5% to a seven-year high of $983/t after China reportedly bought a large consignment of U.S. corn. Argentina's carriers halted their strike, while Malaysian palm oil futures edged up 0.7% under pressure from weak demand and higher output.

- Date: 2021-01-27 · published 2021-01-27T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/49249-the-sharp-rise-in-prices-of-soybean-oil-will-support-prices-for-sunflower-oil
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Corn](https://feedsoft.ai/c/CORN.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Sunflower Meal](https://feedsoft.ai/c/SUNMEAL.md)

## Why it matters

Strong Chinese U.S. corn buying and firm soy oil prices lift feed input costs, while the end of Argentine strikes removes a logistical support factor for soy oil.

## Read by commodity

- SBM: bullish ▲
- SBO: bullish ▲
- SOY: bullish ▲
- CORN: bullish ▲
- PALMOIL: neutral
- SUNMEAL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2017-04-10 | [Turkey Increased Soybean And Sunflower Import In February](https://feedsoft.ai/events/71619-turkey-increased-soybean-and-sunflower-import-in-february.md) | +1.2% | +1.5% |
| SOY | 2021-05-13 | [China's record soybean demand forecast to support prices till 2022: sources](https://feedsoft.ai/events/47090-china-s-record-soybean-demand-forecast-to-support-prices-till-2022-sources.md) | -7.4% | -7.0% |
| SOY | 2020-11-24 | [Why Grain Prices are Surging and What It Will Take For The Rally to Last - ProAg](https://feedsoft.ai/events/4399-why-grain-prices-are-surging-and-what-it-will-take-for-the-rally-to-last-proag.md) | -2.5% | +4.7% |
| SOY | 2024-07-03 | [China poised for record July soybean imports on low prices](https://feedsoft.ai/events/14735-china-poised-for-record-july-soybean-imports-on-low-prices.md) | -2.0% | -11.7% |
| SOY | 2022-11-28 | [Cargill to buy soybean processor and oil refiner Owensboro Grain](https://feedsoft.ai/events/38752-cargill-to-buy-soybean-processor-and-oil-refiner-owensboro-grain.md) | +0.2% | +3.0% |
| SBO | 2024-11-26 | [Global: Soybean oil prices rose sharply on Chicago after Trump's announcement which could support the quotations of other vegetable oils and sunflower](https://feedsoft.ai/events/27479-global-soybean-oil-prices-rose-sharply-on-chicago-after-trump-s-announcement.md) | -1.0% | -1.0% |
| SBO | 2021-04-14 | [High demand supports the purchase price of sunflower in Ukraine](https://feedsoft.ai/events/47712-high-demand-supports-the-purchase-price-of-sunflower-in-ukraine.md) | +7.6% | +18.8% |
| SBO | 2023-10-11 | [Lower sunflower seed prices in the EU and Ukraine](https://feedsoft.ai/events/33750-lower-sunflower-seed-prices-in-the-eu-and-ukraine.md) | +5.1% | -0.7% |

## Sources

- graintrade.com.ua: https://graintrade.com.ua/en/novosti/rizke-podorozhchannya-soevoi-olii-pidtrimae-tcini-na-sonyashnikovu-oliyu-ta-sonyashnik.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.