Sunseed prices in Ukraine fall following the fall in vegetable oil prices

Yesterday, Trump announced a 90-day deferral of tariffs on all countries except China, effectively “pausing” the trade war against the world. But the escalation between the US and China continues to weigh on oil prices, given the potential for a drop in global demand as both countries’ economies slow. Following oil quotes, prices for biofuels and vegetable oils continue to fall, leading to lower prices for sunflower oil and sunseed in Ukraine. June Brent crude futures, after falling 25% over the past two weeks, rose 3.6% yesterday to $65.3/barrel (-14.8% for the week). June palm oil futures on the Bursa Malaysia exchange fell 4.5% to 4,146 ringgit/t or $923/t on Monday (-8.9% for the week) following the drop in oil prices. On the Dalian exchange, the most active soybean oil contract fell 0.89% yesterday, while palm oil CPO1 fell 1.9%. May soybean oil futures on the Chicago Board of Trade, after falling 7.8% over the previous 7 days, rose 2.7% yesterday to $1,018/t (+9.2% ...