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Reuters reported Rotterdam vegetable oil quotes for February 24, 2017, with soyoil EU degummed down $10 to 775 euros per tonne for February delivery. Rapeoil, sunoil and crude palm oil were also listed, with palm oil futures mostly lower across contract months.
Prices were quoted for both nearby and deferred delivery.
Lower vegetable oil quotes point to ample near-term supply, which weighs on soyoil and palm oil prices. Palm oil and soyoil compete for the same edible and feed-fat buyers, so their moves tend to track each other.
prestasisawit.mpob.gov.myFeb 24, 2017Not 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.
