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…
11.13.2024
Neste, Air Canada sign SAF agreement for Vancouver
Finnish transport fuel producer Neste and Air Canada have signed an agreement for the delivery of approximately 20 million gallons of sustainable aviation fuel (SAF) for use by the...
11.13.2024
CWG prices up slightly; DCO movements mixed
The US animal fats and oils markets remained mostly stable to slightly higher on Wednesday November 13, with a modest increase in trading, though many participants continued to exercise...
11.13.2024
2024/25 grain consuming animal unit headcounts increase by 0.39%
Meat and bonemeal, porcine and ruminant, Missouri River were lower on Wednesday November 13. Market sources told Fastmarkets that there are varied poultry and layer feed demand levels, with...