Loading…
India made record purchases of US soyoil as drought hit South America. US soyoil prices have climbed nearly 20% this year to near decade highs.
Strong Indian import demand for US soyoil supports US soyoil prices and adds to food inflation concerns in importing countries.
reuters.comRajendra JadhavFeb 18, 2022After 224 past bullish trade events, SBO moved a median +0.4% over 5 sessions (54% higher; middle half -1.5% to +2.1%), and -0.5% over 20.
After 696 past bullish trade events, SOY moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% 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.
Record Indian purchases of US soyoil on 2022-02-18 signaled strong export demand and South American supply shortfalls, supporting prices going into the 02-21 move.
