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China's state reserve auctioned about 3.4 million tonnes of rapeseed oil in 2016, priced below market, which undercut imported palm olein and soybean oil. Rapeseed imports also fell for a second year after a planned impurity rule was postponed and then suspended.
Cheap state-reserve oil displaced imported vegetable oils, reducing demand for palm and soybean oil and weighing on their prices.
gofbonline.comgofb-admJun 21, 2017gofbonline.comgofb-admJun 21, 2017gofbonline.comgofb-admJun 21, 2017After 400 past bearish policy events, Palm Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.1%), and +0.2% over 20.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 351 past bearish policy events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.7% to +1.8%), and -0.2% 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.
