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No Bull Agriculture CEO Susan Stroud told the Indonesian Palm Oil Conference in Bali that soybean oil is becoming the growth driver among vegetable oils. She said US and Brazilian soybean production and crushing are expanding to meet biofuel feedstock demand.
Growing industrial and biofuel demand for soyoil, plus US 45Z credit preferences for North American feedstock, could erode palm oil's share and shape longer-term vegetable oil prices.
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.