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China reopened its market to Argentine soybean oil after nearly a year of closure, under an agreement between the two heads of state in May. In 2015 Argentina exported $1.4 billion of soyoil to China.
China is also considering a biodiesel blending policy that Malaysia and Indonesia plan to supply.
Restored Chinese access gives Argentine soyoil an outlet as U.S. biodiesel demand for imports narrows, supporting soyoil export demand and prices.
biofuelsdigest.comMeghan SappAug 28, 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 67 past neutral trade events, Palm Oil moved a median +0.0% over 5 sessions (51% higher; middle half -1.1% to +1.3%), and +0.6% 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.
