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The FAO Food Price Index rose to an 11-year high in January, led by its Vegetable Oils Price Index, which rose 4.2% to an all-time high. Palm oil gained on Indonesian supply concerns, while soy, sunflower and rapeseed oil prices also rose on tighter supplies.
Broad-based vegetable oil strength signals tight global edible oil supply, raising feedstock costs for feed and food processors. Higher oil prices also tend to tighten the oilseed meal balance.
fooddive.comSamantha OllerFeb 3, 2022After 149 past bullish report events, Palm Oil moved a median +0.5% over 5 sessions (57% higher; middle half -1.1% to +1.8%), and +0.8% over 20.
After 296 past bullish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), and -0.5% over 20.
After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% 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.
