Vegetable oils fluctuate while awaiting official data

Vegetable oil markets showed mixed performance over the past week, reflecting the absence of new structural factors and the anticipation of upcoming official data. According to StoneX, soybean oil futures ended the period in decline, while palm oil maintained an upward trajectory, supported by regional supply and exchange rate factors. The March soybean oil contract fell 0.9% over the week, priced at US¢ 53.5 per pound. With no significant changes in market fundamentals, the movement was mainly influenced by profit-taking, in addition to the increases observed in Brent oil and Heating Oil prices. Despite the depreciation of the vegetable oil, diesel futures contracts ended Friday at the highest levels since September of last year, which limited more significant losses. On Monday morning (2), the March soybean oil contract resumed trading lower, trading at US¢ 52.91 per pound, a 1.12% drop by 11 a.m. Market attention turns to the release, expected in the afternoon, of soybean ...