Soybean Oil Futures Rise on Fund Spreading
Soybean oil futures rose on Friday as bull spreading in the soybean market and oil/meal spreading by funds supported prices. The palm oil market was closed in observance of the Lunar New Year. Trading in palm oil will resume on Monday, but U.S. markets will be closed in observance of the President’s Day holiday. The Jacobsen’s Vegetable Oils Bulletin will not be published on Monday but will resume on Tuesday.
Nearby soybean oil futures gained nearly one percent (March contract +41 basis points per pound) to lift the benchmark contract back above the 46-cent level. Buying at the five-day exponential moving average helped limit the downside as prices sold-off following an initial test…
12.24.2024
Animal fats, oils markets quiet amid Christmas holiday
The US animal fats and oils markets remained steady on Tuesday December 24, amid limited trading due to the Christmas holidays.
Market sources expected activity to remain subdued...
12.24.2024
US November broiler, turkey slaughter down year on year
US animal protein prices were steady on Tuesday December 24, with limited volumes reported to have been traded. With the proximity of the end-of-year holidays, most market participants are...
12.24.2024
US weekly soybean, wheat export inspections rise, corn falls
Weekly export inspections
Export inspections of US grains showed a decline for corn but an increase for soybean and wheat in the week to December 19, according to data...