Soybean Oil Rally Continues but Fund Spreading Limits Gains
Vegetable oil prices rallied on the last full trading day of the year, but fund spreading limited gains in nearby soybean oil contracts. Palm oil prices rose to narrow the spread to soybean oil, but strength in the ringgit limited the gains. A report released after the Malaysian market close, indicating the U.S. would ban palm oil imports from a second Malaysian plantation, could have a minimal bearish impact on Thursday’s palm oil prices. However, optimism about rising export demand and increasing prices on the Dalian exchange will likely more than offset any selling related to the U.S. ban.
Nearby soybean oil prices gained less than 1/4 percent (March contract +11 basis points per pound). Buying across the soybean complex supported prices. However, fund liquidation of bull spreads drove deferred contracts…
01.09.2025
Additional 45z guidance expected on January 10
Information addressing the Bipartisan Infrastructure Law (BIL) and the Inflation Reduction Act (IRA) is expected to be released on Friday January 10, according to several sources speaking with...
01.09.2025
Prices for US animal fats and oils unchanged; market tightness persists
The US animal fats and oils markets were unchanged on Thursday January 9, as trade slowed following an active start to the week.
Participants continued to report stable pricing in...
01.09.2025
Averted ILA port strike eases animal protein market tension; November dog, cat food exports rise
US animal protein prices were steady on Thursday January 9. With the International Longshoremen’s Association (ILA) port strike avoided, sources expect unease to diminish to a degree. However, trade...