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Malaysian palm oil closed at a new 10-year high on March 9, 2021, supported by soybean oil strength from South American weather problems. Soybean oil reached its highest since 2012 and Paris rapeseed futures hit a record as European stocks dwindled.
A global shortage of oilseeds for food and biodiesel uses lifts vegetable oil prices and tightens supply of fats used in feed. Concerns that India may reduce purchases at high prices represent a demand risk.
thestar.com.myThe Star OnlineMar 9, 2021After 181 past bullish weather events, PALMOIL moved a median +0.5% over 5 sessions (56% higher; middle half -0.9% to +1.9%), and +0.3% over 20.
After 184 past bullish weather events, SBO moved a median +0.3% over 5 sessions (53% higher; middle half -1.9% to +2.4%), and -0.5% over 20.
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.
