South American Weather Weighs on Soybean Oil Prices

South American Weather Weighs on Soybean Oil Prices

South American Weather Weighs on Soybean Oil Prices

Improving growing conditions in South America continued to weigh on the soybean complex on Tuesday. In addition to the weakness in soybean futures, the liquidation of bull spreads across the complex drove nearby futures sharply lower. Palm oil futures moved lower overnight, but the decline was limited by the relatively more bullish palm oil fundamentals, causing the spread between the January soybean oil and palm oil contracts to a new low. With a 1 1/4 cent premium for palm oil, the demand for U.S. soybean oil exports is likely to remain healthy. Crude oil futures were modestly lower but remained well above recent lows. The spread between heating oil futures and soybean oil futures is so high that any decline in energy values likely have little impact on soybean oil prices.

The disparity between domestic soybean oil…

Membership is required to view the rest of this post.
Click here to learn more and sign up for a free 7-day trial!

Request a Free 7-Day Trial


    Please enter the level or reporting you're most interest in.

    Please select the area in which you are most interested in our reporting.
    Please select all areas of secondary interest to you.

*all fields required

More from the author

04.14.2021

Inflation Fears and Technical Buying Drive Soy Oil Higher

04.07.2021

Weakness in Soybean Prices Drives Soybean Oil Lower

04.01.2021

Collapse in Soy Spreads Weighs on Nearby Soybean Oil Prices

Blog

04.14.2021

Inflation Fears and Technical Buying Drive Soy Oil Higher

Inflation Fears and Technical Buying Drive Soy Oil Higher

Inflation Fears and Technical Buying Drive Soy Oil Higher

Agricultural and energy prices surged higher on Wednesday, driving soybean oil prices sharply higher. Most palm oil...

04.14.2021

Apparel & Leather Goods Supply Chain Complications Persist

Apparel & Leather Goods Supply Chain Complications Persist

Steer prices dropped $1.50-$3 on some selections today. Bids from Chinese buyers are very limited and a few dollars lower than last week’s trading levels. Bids from Korea continue...

04.13.2021

Disease Resistant Hemp Requires Research and Time

Disease Resistant Hemp Requires Research and Time

Cannabis selection has occured over thousands of years, for the intoxicating resin or fibrous characteristics.  Selection was retarded in much of the world due to prohibition, but pockets of breeding...

Latest Tweets

We are excited to announce that we have acquired @thejake1865, expanding and strengthening our agriculture business and bringing new insights and capabilities to our customers. ... Learn more: http://spr.ly/6019HddQb

#FastmarketsAgriculture #agriculture #acquisition

Join us at our first virtual Hemp Conference looking at Hemp Fiber, Flower and CBD - https://thejacobsen.com/events/hemp-conference #hemp #cbd #cbg #industrialhemp

Load More...