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U.S. soyoil prices rose 1.8% after Washington imposed countervailing duties of up to 68.28% on biodiesel imports from Argentina and Indonesia. Argentine producers have threatened to halt exports to the U.S. in response.
Duties restrict cheaper imported biodiesel, shifting demand to domestic supply and lifting soybean oil prices, with soymeal crush economics also affected.
biofuels-news.comBiofuels Int @biofuelsmagAug 24, 2017After 224 past bullish trade events, Soybean Oil moved a median +0.4% over 5 sessions (54% higher; middle half -1.5% to +2.1%), and -0.5% over 20.
After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% 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.
