Fund Spreading Leaves Soybean Oil Higher Ahead of Holiday
Soybean oil prices were mixed ahead of the Thanksgiving holiday as fund liquidation of short oil share positions supported nearby contracts. Palm oil futures were supported in the overnight session by the continued rally in crude oil and technically driven buying.
U.S. markets will be closed on Thursday, and trading will end at noon (CST) on Friday in observance of the Thanksgiving holiday. The Vegetable Oils Bulletin will not be published on Thursday but will return on Friday.
Nearby soybean oil prices gained more than 1/4 percent (January contract +14 basis points), but light bull spreading in soybean oil futures drove the May and June contracts slightly lower. Selling above the 38-cent level in the benchmark contract weighed on prices while buying at the 10-day…
12.20.2024
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...
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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,...
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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...