Vegetable Oil Markets Consolidating Ahead of Golden Week

Vegetable Oil Markets Consolidating Ahead of Golden Week

Vegetable Oil Markets Consolidating Ahead of Golden Week

Vegetable oil prices dropped sharply on Tuesday as liquidation by Chinese speculators ahead of the Golden Week holiday, and weakness in soybean prices outweighed relatively bullish fundamentals. Concerns about a lack of Chinese demand following the Golden Week holiday and faster-than-expected U.S. harvest progress for soybeans also weighed on prices. Crude oil prices also fell sharply during U.S. trading hours, adding marginal pressure on prices. The benchmark November West Texas Intermediate (WTI) contract fell about four percent. It settled back below $40 per barrel following renewed fears about a second wave of the pandemic due to rising positivity rates in New York.

Nearby soybean oil futures fell about 1 1/4 percent (December contract -42 basis points per pound). However, the declines in deferred contracts…

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

07.25.2025

Sausage casings bulletin, July 25, 2025

Sausage casings bulletin, July 25, 2025

Runner market commentary

Membership required to view content.

...

Membership is required to view the...

07.18.2025

Sausage casings bulletin, July 18, 2025

Sausage casings bulletin, July 18, 2025

Runner market commentary

Membership required to view content.

...

Membership is required to view t...

07.11.2025

Sausage casings bulletin, July 11, 2025

Sausage casings bulletin, July 11, 2025

Runner market commentary

Membership required to view content.

...

Membership is required to view t...

Latest Tweets