Soybean Oil Futures Mixed Despite Sharp Drop In Soybean Price
The palm oil market was closed on Thursday, leaving soybean oil traders on their own. Without the palm oil market’s overnight influence, soybean oil relied partially on soybean futures. However, when soybean prices plummeted shortly after the U.S. opening, soybean oil held close to unchanged. Bull spreading within soybean oil curve and oil/meal spreading by funds left soybean oil futures mixed with nearby contracts gaining about 1/4 percent (March contract +13 basis points) and deferred contracts down less than 1/4 percent (December contract -3 basis points).
At this point, it is clear that a combination of robust demand, particularly from the export market and weak crush margins, has left the market short of nearby soybean oil…
02.21.2025
US animal fats and oils markets finish week strong; broader uncertainty persists
The US animal fats and oils markets ended Friday February 21 on a relatively quiet note, though broader market developments throughout the week have added ongoing uncertainty to the...
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Sausage casings bulletin, February 21, 2025
Runner market commentary
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02.21.2025
US weekly net soybean meal exports, sales retreat again
In the week to February 13, US net soybean meal and soybean cake sales and exports continued to decline but were above most analysts' estimates, data released by the...