Fund Spreading Drives Gains in Soybean Oil Futures
World vegetable oil prices were mixed as a decline in Chinese futures weighed on prices while a rally in soybean and crude oil futures supported prices. West Texas Intermediate (WTI) futures gained nearly two percent (November contract +$0.77 per barrel) ahead of inventory data from the American Petroleum Institute (API) scheduled for release Tuesday night. The move left the benchmark contract back above the psychologically critical $40 per barrel level.
Soybean oil futures rose about 1 1/2 percent (December contract +46 basis points per pound) as the crude oil recovery triggered fund liquidation of short oil share positions. Buying at the 33-cent level helped support prices early in the overnight session, and that level is likely to remain supportive in the short term. The direction of soybean futures will be a…
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...
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Sausage casings bulletin, February 21, 2025
Runner market commentary
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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...