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Palm oil producers in Indonesia and Malaysia are struggling as China's trade war with the US pushes US soybeans into global markets. Palm prices have fallen about 40% since early 2017, though they have recovered from a December low.
Cheap soybean oil competes with palm oil in biofuel use, which weighs on palm prices and farm incomes across Southeast Asia.
caixinglobal.comMay 22, 2019After 158 past bearish trade events, Palm Oil moved a median +0.0% over 5 sessions (51% higher; middle half -1.3% to +0.8%), and -1.4% over 20.
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.
