Soybean Oil Price Reaches The Lowest Point Of 7 Years
Soybean oil inventory is at the peak now. The trade war with U.S. eased and the falling price of crude oil make soybean oil price getting down. Oil mills adjusted the squeezing speed according to soybean meal inventory and squeezing profits. Soybean oil inventory is going up passively. warehouse receipt were also at a historical high level. It is difficult to digest the current high stock in the peak season of oil consumption. Soybean oil stocks were still at a high level of 1.5-1.6 million tons before the end of the year. The expected easing of trade wars led to the weakening of soybean oil prices in recent months.
As we can see in the graph below, soybean oil price has reached the lowest point since 2012. Oil price's narrow shock in the short-term is the main tone. The possibility of Oil price keep falling is small, but it will take time to rise. It depended on the domestic inventory, and whether there are other new news stimulus.
Soybean Price Trend during 2012-2018
So, what will you expect on ESBO's price?
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