Palm Oil Futures Jump on Strength in Chinese Market
Vegetable oil prices were mixed on Friday with palm oil continuing to rally sharply while nearby soybean oil futures rose, and deferred contracts fell. Overnight strength in crude oil prices supported the gains in palm oil, but weakness during the U.S. session left the price of West Texas Intermediate (WTI) futures just marginally higher for the day.
Nearby soybean oil futures rose by nearly one percent (December contract +28 basis points per pound), but deferred contracts fell by as much as 3/4 percent (December 2021 contract -25 basis points). Strength in nearby soybean futures helped support soybean oil values, but fund liquidation of long oil share positions limited the advance. Selling above the upper Bollinger band also weighed on prices, while buying at the five-day exponential moving average limited weakness…
02.21.2025
US animal fats and oils markets finish week strong; broader uncertainty persists
The US animal fats and oils markets ended Friday February 21 on a relatively quiet note, though broader market developments throughout the week have added ongoing uncertainty to the...
02.21.2025
Sausage casings bulletin, February 21, 2025
Runner market commentary
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02.21.2025
US weekly net soybean meal exports, sales retreat again
In the week to February 13, US net soybean meal and soybean cake sales and exports continued to decline but were above most analysts' estimates, data released by the...