Soybean Oil Futures Post Largest Monthly Gain Since December
Soybean oil futures rallied on Friday as a combination of strength in soybean and crude oil markets, fund spreading, and technically-driven buying drove prices higher. The palm oil market was closed in observance of the Eid-al-Adha holiday, but soybean oil futures gained about two percent (September contract +58 basis points). Traders ran stops above the 200-day moving average, which left futures to settle near the highs of the day.
For the week, soybean oil futures gained nearly two percent (September contract +55 basis points) to settle at the highest price since February 24. For the month, prices rose more than 7 1/2 percent (September contract +217 basis points) for the largest…
02.28.2025
Chinese plant begins producing SAF, RD for export to Europe
China-based Jiaao Enprotech began production at its sustainable aviation fuel (SAF) and renewable diesel plant in Lianyungang in Jiangsu province in December, the company told Fastmarkets on Wednesday February...
02.28.2025
CWG bucks the trend in an otherwise sluggish week for fats and oils
After a sluggish week of trading, activity in the US animal fats and oils markets increased at the end of the month, with prices averaging mostly steady to slightly...
02.28.2025
Bloodmeal prices surge through February
Trading in the animal protein market was quiet to close out February with no transactions reported on Friday February 28.
For the week, the market was mostly higher...