Soy Complex Weakness Drives Soybean Oil Lower
Vegetable oil prices were mixed on Wednesday as weakness in soybean futures, and crude oil prices weighed on soybean oil futures, while bullish export news and robust demand from India supported palm oil prices. The moves narrowed the spread between the May soybean oil and palm oil contracts to less than 10 cents a day after the spread set a new high just below 11 cents. The July spread fell back below 11 cents. Despite the decline on Wednesday, the May spread continues to trade in the channel it has been in since bottoming just above five cents in early February. However, if soybean futures continue to move lower, the spreads will likely test the lower end of the channel and could move back toward the long-term average over the next several weeks.
The weakness in soybean oil futures also pushed the spread between soybean oil and…
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...