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Soybean oil futures have more than tripled over 12 months, reaching highs near $74 before a sharp correction in June 2021. Brazil cut its biodiesel blend from 13% to 10% in April, with the reduction extended until at least August.
Argentina was reportedly considering a similar cut, which could push more soyoil exports onto the world market.
Lower biodiesel blend mandates in Brazil and Argentina would free soybean oil for export and could add supply to world markets, which would weigh on prices. The outcome depends on whether those policy changes proceed.
thearmchairtrader.comStuart FieldhouseJun 17, 2021Not 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.
