# Argentine soy oil price tumbles as China adopts wash-out practice with purchase contracts - DatamarNews

> Chinese importers have begun washing out Argentine soybean oil contracts, cancelling prior purchases and switching to cheaper Black Sea sunflower oil. Argentine soy oil fell to $716/t FOB on August 12, the lowest daily value in five months. India also cancelled a 60,000-tonne purchase.

- Date: 2020-08-13 · published 2020-08-13T12:00:00.000Z
- Category: trade · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/51682-argentine-soy-oil-price-tumbles-as-china-adopts-wash-out-practice-with-purchase
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Sunflower Meal](https://feedsoft.ai/c/SUNMEAL.md)

## Why it matters

Cancelled Argentine soy oil demand and substitution by cheaper sunflower oil weigh on soybean oil export values and the vegetable oil complex, with bearish implications for Argentine soy oil and related meal margins.

## Read by commodity

- SBO: bearish ▼
- SUNMEAL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2019-05-24 | [MARKET WATCH: Oil prices tumble after US-China news \| Oil & Gas Journal](https://feedsoft.ai/events/9796-market-watch-oil-prices-tumble-after-us-china-news-oil-and-gas-journal.md) | +3.0% | +6.2% |
| SBO | 2021-02-03 | [China washes out soybean, vegoil cargoes amid poor margins - Fastmarkets](https://feedsoft.ai/events/48721-china-washes-out-soybean-vegoil-cargoes-amid-poor-margins-fastmarkets.md) | +2.8% | +10.2% |
| SBO | 2017-09-01 | [Argentina oilseed chamber says U.S. biodiesel tariffs to hit soy prices \| BIODIESEL ARGENTINA-NOTICIAS SOBRE BIODIÉSEL BIOCOMBUSTIBLES Y ENERGIAS RENOVABLES](https://feedsoft.ai/events/69032-argentina-oilseed-chamber-says-u-s-biodiesel-tariffs-to-hit-soy-prices.md) | -0.3% | -6.2% |
| SBO | 2019-06-28 | [US-China trade tensions hurt Argentine soybean exports - Chinadaily.com.cn](https://feedsoft.ai/events/58439-us-china-trade-tensions-hurt-argentine-soybean-exports-chinadaily-com-cn.md) | -1.3% | +2.4% |
| SBO | 2017-04-12 | [China edible oil price slump to hit palm oil imports \| Borneo Post Online](https://feedsoft.ai/events/71601-china-edible-oil-price-slump-to-hit-palm-oil-imports-borneo-post-online.md) | +1.6% | +3.2% |

## Sources

- datamarnews.com: https://datamarnews.com/noticias/argentine-soy-oil-price-tumbles-as-china-adopts-wash-out-practice-with-purchase-contracts/

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