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Soybean oil and palm oil prices fell sharply on March 14 after a steep prior rally. Selling followed continued auctions of rapeseed and soybean oil from the State Reserve and weakening terminal demand, with palm oil down more than 5% in a day.
State reserve auctions add domestic supply in China and weaker downstream demand pressures vegetable oil prices, reducing the cost of oil-based feed ingredients.
sunsirs.comMar 15, 2022Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
Soybean and palm oil prices fell sharply on March 14 after a steep rally, with State Reserve auctions and weakening terminal demand prompting profit-taking.
Sharp falls in soybean and palm oil after a steep rally, with State Reserve auctions and weak demand in China, signal liquidation and weaker demand that fed into the weekly decline.
Sharp soy and palm oil declines after a steep rally, driven by State Reserve auctions and weakening demand, indicate profit-taking and sentiment weakness in vegoils, though the date is a few days before the move.
