Global: Soybean oil prices rose sharply on Chicago after Trump's announcement which could support the quotations of other vegetable oils and sunflower

Yesterday, on his page on the Truth social network, D. Trump said he would impose additional 10% tariffs on goods from China and 25% tariffs on goods from Canada and Mexico, which worried markets about possible supply cuts. The Canadian dollar fell to a 4-year low, the peso hit its lowest since 2022, and soybean oil prices rose 3% on the news. An increase in tariffs on Canadian goods will reduce supplies of canola oil, which is used in the US to make biodiesel. Against this background, December soybean oil futures on the Chicago Stock Exchange, after falling last week by 8.5% to $910/t (-3% for the month), rose by 3% to $934/t yesterday, but already after closing of trades. December palm oil futures on Bursa Malaysia yesterday rose 1.2% to 4,699 ringgit/t or $1,056/t (-4.3% on the week) amid speculative buying fueled by forecasts of a cut in domestic production. According to surveyor AMSPEC, as a result of a sharp increase in palm oil prices, Malaysia reduced its exports from ...