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Ukraine and Russia posted a bumper 2019/20 sunflower seed crop, with record sunflower oil exports of 4.5 million tonnes for Ukraine (Sep-Apr) and 2.1 million for Russia (Sep-Mar). Competition for Indian and Chinese markets is intensifying, and USDA forecasts global sunflower oil consumption up 2% in 2020/21.
Crop prospects have improved as weather risks recede.
Large Black Sea sunflower supplies and export competition are bearish for sunflower oil and meal prices, with improved yield prospects reinforcing that pressure.
agrisupp.comMay 27, 2020Not enough comparable past events yet for a historical read.
After 152 past bearish trade events, Soybean Oil moved a median -0.2% over 5 sessions (47% higher; middle half -2.1% to +2.1%), and -0.1% 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.
