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Egyptian buyer GASC purchased about 51.5 thousand tons of vegetable oil for October 25 to November 10 delivery, including 10 kt of sunflower oil from ADM and 11.5 kt from Aston at $719/t. Sunflower oil prices were $719-731/t, down $17/t from the previous tender, while 30 kt of soybean oil was bought at $698.7/t.
Palm and soybean oil prices had begun to recover after a long decline.
Lower sunflower oil tender prices signal weak edible oil demand, but the rebound in palm and soybean oil and firmer Indian demand for sunflower oil may limit further downside. Feed buyers should expect vegetable oil prices to stay range-bound.
graintrade.com.uaSep 26, 2018After 81 past neutral trade events, Soybean Oil moved a median +0.3% over 5 sessions (56% higher; middle half -1.6% to +1.8%), and +0.9% over 20.
After 133 past bullish trade events, Palm Oil moved a median +0.7% over 5 sessions (64% higher; middle half -0.8% to +2.3%), and +1.7% 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.
