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Argentine biodiesel exports have fully stopped because pandemic-hit fuel demand in Europe has paralyzed the sector. Argentina exported about 1 million tonnes of biodiesel last year, mostly to the EU, and the chamber expects a soybean oil surplus this year.
Halted Argentine biodiesel exports leave extra soyoil domestically, which is bearish for soybean oil prices and adds to global vegetable oil oversupply.
inkl.comMay 5, 2020After 351 past bearish policy events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.7% to +1.8%), and -0.2% over 20.
After 369 past bearish policy events, Soybeans moved a median -0.2% over 5 sessions (46% higher; middle half -1.7% to +1.8%), and +0.8% 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.
