Volatility Continues in Soybean Oil Market

Volatility Continues in Soybean Oil Market

Volatility Continues in Soybean Oil Market

Vegetable oil futures were mixed on Friday, driven by weakness in prices on the Dalian exchange and selling across the soybean complex. Crude oil futures were marginally lower but held onto the gains from Thursday’s low, leaving the benchmark November contract above $40 per barrel. Soybean oil extended its streak of weeks with a larger than one cent change in price to five, but the benchmark contract has traded between 33 and 34 cents for the last 10 days.

Nearby soybean oil futures declined by about 1/2 percent (December contract -18 basis points per pound), but the declines in deferred contracts were smaller. Light liquidation of short oil share positions helped limit the decline in soybean oil prices, as did buying below the benchmark contract’s 33-cent level. However, the December contract still settled below the…

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

12.20.2024

45z guidance fails to appear; government scrambles to pass spending bill

45z guidance fails to appear; government scrambles to pass spending bill

The US government spending bill failed twice in as many days. If a deal is not reached by midnight on Friday December 20, some federal services will...

12.20.2024

US animal fats and oils end week softer across the board ahead of holiday slowdown

US animal fats and oils end week softer across the board ahead of holiday slowdown

Prices for US animal fats and oils ended the week on a lower note on Friday December 20, with most markets trending downward ahead of the upcoming holiday week,...

12.20.2024

December cattle on feed down on month, year

December cattle on feed down on month, year

Most US animal protein prices were rangebound for the week, though in wider ranges due to the impending Christmas and New Year's holiday closures.

The only significant price...

Latest Tweets