Profit-Taking Drives Soybean Oil Prices Lower
Vegetable oil futures were mixed on Friday with palm oil prices supported by gains on Thursday in soybean oil, while fund spreading triggered profit-taking in the soybean oil market. Vegetable oil cash markets in China also followed Chicago futures higher, which led to a rally in futures prices on the Dalian exchange. The move, in soybean oil futures, on Thursday also drove cash rapeseed oil prices in China higher on Friday. Rapeseed oil cash prices have been the driving force behind much of the rally in world vegetable oil prices and will likely continue to support soybean oil and palm oil futures in the short term.
Soybean oil futures declined by about 3/4 percent (December contract -26 basis points per pound). However, the benchmark December contract was able to settle above the psychologically critical 33-cent level. It…
02.04.2025
Chicago, Gulf animal fats and oils markets strengthen despite ongoing uncertainty
The US animal fats and oils markets were stable to higher on Tuesday February 4, as Chicago market activity saw a notable uptick throughout the day.
Six railcars...
02.04.2025
Light trade volume leaves most US animal protein prices flat
Light trade volume was reported in the US animal proteins markets for Tuesday February 4.
Ruminant meat and bonemeal, Missouri River, was reported as steady from Monday February...
02.04.2025
December US soybean crush, corn consumption up month on month
US soybean crush above monthly, yearly levels
Soybeans crushed for crude oil totaled 218 million bushels in December 2024, up by 7% from November and by 4% from...