Late-Afternoon Rally Breaks Soy Oil Out of Trading Range

Late-Afternoon Rally Breaks Soy Oil Out of Trading Range

Late-Afternoon Rally Breaks Soy Oil Out of Trading Range

Vegetable oil futures were mixed on Friday as a late-session rally lifted soybean oil futures, while nearby palm oil prices were marginally mixed. Crude oil prices traded within a 50-cent per barrel range for most of the overnight session but declined sharply at the U.S. opening as hope for a U.S. stimulus deal before the election faded. Still, the decline left the benchmark December contract above the critical $40 per barrel level at the end of agricultural trading, which minimized the impact of the deterioration on vegetable oil prices.

Nearby soybean oil futures jumped by 1 1/4 percent (December contract +42 basis points per pound), but gains in deferred contracts were smaller (December 2021 contract +18 basis points). Concerns about the impact of a crushing plant’s shutdown in Argentina and robust domestic…

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03.28.2024

LCFS credit volumes, average prices move higher

LCFS credit volumes, average prices move higher

**Please note – There will be no Biomass Based Diesel bulletin on March 29, 2024, in observance of Good Friday.**

**Bob Lane was out of the office today.**


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Please note – The Jacobsen will not publish an Animal Fats bulletin on Friday, March 29th in observance of the Good Friday holiday.

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** Please note: The Jacobsen will not publish a bulletin on Friday, April 29 in observance of Good Friday. **

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