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A CME Group analysis argues that soybean oil prices have recently moved ahead of crude oil, because the smaller vegetable oil market reacts sensitively to crude supply and demand shifts. Biofuel mandates in 64 countries link the two markets through refiner purchasing.
The linkage means crude oil moves can signal and transmit into vegetable oil prices through biofuel buying. Buyers tracking oilseed meal and oil costs should watch crude as a leading indicator.
cmegroup.comMar 8, 2017Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
