Export Data Triggers Selling in Palm Oil Market

Export Data Triggers Selling in Palm Oil Market

Export Data Triggers Selling in Palm Oil Market

Vegetable oil futures remained mixed on Tuesday as the same trends continued to widen the spread between soybean oil and palm oil prices. Buying across the soybean complex contributed to the strength in soybean oil futures, which traded both sides of unchanged during a relatively volatile session. Concerns about rising inventories due to seasonally increases in production and slowing exports triggered selling in the palm oil market. Strength in the Malaysian ringgit also contributed to the bearish tone in palm oil.

Soybean oil futures gained more than one percent (December contract +33 basis points per pound). The rally left the benchmark December contract to settle above 32 cents for the first time since February. However, selling at the upper Bollinger band limited the advance. Improving soybean oil fundamentals and…

Membership is required to view the rest of this post.
Click here to learn more and sign up for a free 7-day trial!

Blog

11.13.2024

Neste, Air Canada sign SAF agreement for Vancouver

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

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%

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...

Latest Tweets