Soybean Oil Falls Ahead of Monthly USDA Data
World vegetable oil prices fell on Monday, but despite the decline, the benchmark contracts in the soybean oil and palm oil markets settled between the upper Bollinger band and five-day exponential moving average, suggesting the recent trend remains intact. However, selling in the front end of the soybean curve could mean further downside risk for vegetable oil futures. The weather forecast for Argentina turned drier over the weekend, but unexpected rainfall in Cordoba during the weekend, may have contributed to profit-taking on Monday.
The declines left the spread between the May soybean oil and palm oil contracts just above 8.19 cents per pound. However, the spread settled at the lower end of the day’s range between eight and 9.58 cents. The July spread settled just below 10 cents, a level providing significant resistance in…
01.06.2025
SkyNRG Washington SAF plant to receive $1.5 million planning grant
The $1.5 million grant is intended for use in engineering, permitting and logistics studies towards the planning of the facility, which will produce 50 million gallons of SAF per...
01.06.2025
Animal fat prices in Gulf show upward pressure; weekly hog slaughter increases
The US animal fats and oils markets began the week of Monday January 6 on a relatively active note as trading gradually picks up following the holiday season.
01.06.2025
Potential January ILA port strike weighs on market sentiment
US animal proteins prices were steady day on day on Monday January 6 amid an impending port strike.
A January 15 deadline is set for the International Longshoremen’s...