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Soybean oil futures rose about 3% after reports that the US would impose tariffs on roughly $1.5bn of biodiesel imports from Argentina and Indonesia, which the US accuses of dumping. Rabobank said the duties could lift soyoil prices further.
Anti-dumping duties on South American and Indonesian biodiesel would divert demand toward US soyoil and could lift soyoil values, while raising palm oil and soymeal competition and pressure.
zmp.deMay 5, 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 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.
After 384 past bearish trade events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% 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.
