Market Activity

Please note: Bob Lane will be out of the office through Monday, August 24th. Please contact Ryan Standard at 331.276.8227 or [email protected] with any questions, comments or trading. 

Strength in Soybean Market Drives Rally in Soybean Oil Prices

by Tore Alden

World vegetable oil prices rallied on Monday despite fund liquidation of long oil share positions and bearish cargo surveyor data in Malaysia. A resumption in the rally of vegetable oil prices on the Dalian exchange and higher cash vegetable oil prices contributed to the bullish tone. Strength in crude oil prices, which settled nearly two percent higher, also triggered buying in vegetable oil contracts.

Soybean oil futures rose nearly 1 1/2 percent (December contract +44 basis points per pound) on the strength in soybean prices and bullish data from…