Signs of Economic Recovery Sparks Rally in Soybean Oil
World vegetable oil prices rose on Friday as gains in crude and optimism about the economic recovery triggered buying. Crude oil prices rose steadily in the overnight session and during U.S. agricultural trading hours but accelerated sharply higher following better-than-expected employment data released on Friday morning. If the jobs data is indicative of an acceleration of economic activity, crude oil prices may continue to rise and support world vegetable oil prices.
Soybean oil futures rose more than one percent (July contract +32 basis points per pound) on light oil/meal spreading by the funds in addition to the move in crude. The rally left the most actively traded July contract to settle above the 28-cent level for the first time since March 10. Selling at the upper Bollinger band limited the increase and left…
02.04.2025
Chicago, Gulf animal fats and oils markets strengthen despite ongoing uncertainty
The US animal fats and oils markets were stable to higher on Tuesday February 4, as Chicago market activity saw a notable uptick throughout the day.
Six railcars...
02.04.2025
Light trade volume leaves most US animal protein prices flat
Light trade volume was reported in the US animal proteins markets for Tuesday February 4.
Ruminant meat and bonemeal, Missouri River, was reported as steady from Monday February...
02.04.2025
December US soybean crush, corn consumption up month on month
US soybean crush above monthly, yearly levels
Soybeans crushed for crude oil totaled 218 million bushels in December 2024, up by 7% from November and by 4% from...