11.13.2024
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...
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…