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Rabobank says US anti-dumping duties of about 50 percent on Argentine and Indonesian biodiesel will make those imports uncompetitive. Those two countries supplied about 90 percent of their biodiesel to the US.
The analysis expects more US demand for domestic biodiesel and possible pressure on soy, palm, and canola oil prices.
Losing import demand for Argentine and Indonesian biodiesel shifts feedstock demand toward US production and may weigh on global vegetable oil prices, with possible spillover to feed grains.
theland.com.auCheryl Kalisch Gordon, RabobankSep 11, 2017After 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.
After 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.
Not enough comparable past events yet for a historical read.
After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% 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.
