Sharp drop in soybean oil prices increased pressure on other oils, but the premium for sunflower oil will continue to grow in the United States

December futures for soybean oil on the Chicago Board of Trade for two sessions fell by 5% to 954 $/t (+1.9% for the month), losing for the week the growth of the previous two weeks due to uncertainty with green energy programs after the arrival of the new US Administration. They were not supported by a sharp decline in the forecast of soybean crop in the United States, the increase in soybean processing in October to a record level, high rates of soybean exports and even a slight increase in oil prices. December futures for palm oil on the Bursa exchange in Malaysia on Monday fell 3.8% to 4899 ringgit/t, and on Tuesday and Wednesday traded at 4924 ringgit/t or 1100 $/t (-1.3% for the week) on expectations of increased demand for palm oil amid escalating war of Russia against Ukraine, which will reduce the supply of sunflower oil. According to surveyors, Malaysia for 1-20 November reduced the export of palm oil compared to the corresponding period in October by 1.4-5.3%, but ...