Soyoil premiums in Argentina reached their highest point since July 2022, according to Fastmarkets. Argentine sources cited several factors for a tighter soyoil supply outlook, especially for nearby loading months, including a slow pace of farmer sales amid the delayed soybean harvest and higher operational costs due to the lack of natural gas.
In Brazil, soyoil premiums increased, tracking their counterparts in Argentina, but the spread narrowed in recent weeks. Domestic prices in Brazil are driving up export values. Brazilian domestic demand for biodiesel has slowed recently but is expected to spike in the July-August period.
