South American soybean oil gains competitiveness into Asia as energy rally reshapes vegetable oil spreads

Global vegetable oil markets have tightened significantly in recent weeks as rising crude oil prices and expanding biofuel demand widened South American soybean oil spreads against Asian crude palm oil, reshaping arbitrage relationships into Asia. Chicago Board of Trade July soybean oil futures rallied above 76 cents/pound in early May, reaching the highest levels since November 2022, supported byGlobal vegetable oil markets have tightened significantly in recent weeks as rising crude oil prices and expanding biofuel demand widened South American soybean oil spreads against Asian crude palm oil, reshaping arbitrage relationships into Asia. Chicago Board of Trade July soybean oil futures rallied above 76 cents/pound in early May, reaching the highest levels since November 2022, supported byRead More