Weekly Recap
Soybean futures closed lower on a weekly price basis for the first time in three weeks. Further declines in soybean price might be limited due expectations that the soybean crush will continue to move at record levels. Soybean prices declined 7.25 cents per bushel for August and 8.50 cents for the September futures contract. Price resistance is seen at $9.01 versus support at $8.81. Futures prices finished the week six cents per bushel above values seen at this time last month but a penny below pricing two weeks earlier. Friday’s Commitment of Traders (COT) report showed managed money reduced their overall net long position by 18 percent. Long positions were reduced 2,752 contracts while 10,896 short positions were opened, reducing overall long exposure 13,648 contracts to 62,161.
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03.03.2025
EASA releases EU SAF mandate penalty reference prices
The EU Aviation Safety Agency (EASA) released its report on 2024 aviation fuel prices on February 25, and this will be used to assess penalties for non-compliance with ReFuelEU...
03.03.2025
Gulf UCO, tallow prices edge lower; Chicago lard posts modest gains
Activity in the US animal fats and oils markets picked up late in the day on Monday March 3, with the US Gulf region reporting the bulk of trades.
03.03.2025
Trade quiet in animal protein market ahead of tariff implementation on Canada and Mexico
Trading was quiet in the animal protein market on Monday March 3 with many market participants taking a wait-and-see approach to US tariffs that are set to go into...