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Oil World said China is likely to buy more processed vegetable oils and animal feed meals on global markets in coming weeks as the US-China trade war cuts soybean supplies for its crushers. Indonesia also kept crude palm oil and cocoa export taxes unchanged for November.
Expected Chinese buying of meals and vegoils supports prices for soymeal substitutes and palm oil, while unchanged Indonesian export taxes keep palm export flows steady.
prestasisawit.mpob.gov.myOct 31, 2018After 133 past bullish trade events, PALMOIL moved a median +0.7% over 5 sessions (64% higher; middle half -0.8% to +2.3%), and +1.7% over 20.
After 342 past bullish trade events, SBM moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% over 20.
Not enough comparable past events yet for a historical read.
After 224 past bullish trade events, SBO moved a median +0.4% over 5 sessions (54% higher; middle half -1.5% to +2.1%), and -0.5% 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.
