Vegetable Oil Decline Resumes Ahead of Key USDA Data

Vegetable Oil Decline Resumes Ahead of Key USDA Data

Vegetable Oil Decline Resumes Ahead of Key USDA Data

Vegetable oil markets continued to move sharply lower on Tuesday, which is uncharacteristic on the day before a significant United States Department of Agriculture (USDA) report. Sharply lower pal oil prices in the overnight market set the tone, but the sharp decline in soybean oil futures did not occur until the middle of the U.S. session. The drop left the prompt soybean oil contract locked limit-down for the third time in the last four sessions. Beyond the sharp move in soybean oil futures, the most interesting market development was substantial declines in soybean and other oilseed markets ahead of the critical USDA data. Anecdotal reports suggesting U.S. buyers are booking Argentine soybean oil cargos continue to be the most offered reason for the sharp correction in soybean oil futures. However, the broad liquidation on the day before one of the most…

Membership is required to view the rest of this post.
Click here to learn more and sign up for a free 7-day trial!

Request a Free 7-Day Trial


    Please enter the level or reporting you're most interest in.

    Please select the area in which you are most interested in our reporting.
    Please select all areas of secondary interest to you.

*all fields required

More from the author

04.14.2021

Inflation Fears and Technical Buying Drive Soy Oil Higher

04.07.2021

Weakness in Soybean Prices Drives Soybean Oil Lower

04.01.2021

Collapse in Soy Spreads Weighs on Nearby Soybean Oil Prices

Blog

04.20.2021

Fats, Oils, & Fuels Webinar 4/20/21: Customer Q&A

Fats, Oils, & Fuels Webinar 4/20/21: Customer Q&A

Video shorts from the Fats, Oils, & Fuels Webinar Report Our team of Senior Analysts break down questions from the live Webinar audience during the call on Tuesday, April...

04.14.2021

Inflation Fears and Technical Buying Drive Soy Oil Higher

Inflation Fears and Technical Buying Drive Soy Oil Higher

Inflation Fears and Technical Buying Drive Soy Oil Higher

Agricultural and energy prices surged higher on Wednesday, driving soybean oil prices sharply higher. Most palm oil...

04.14.2021

Apparel & Leather Goods Supply Chain Complications Persist

Apparel & Leather Goods Supply Chain Complications Persist

The Federal Reserve Economic Data (FRED) for the US industrial production index for apparel and leather goods was 62.6 points for February, down 14 percent from the prior five-year...

Latest Tweets

We are excited to announce that we have acquired @thejake1865, expanding and strengthening our agriculture business and bringing new insights and capabilities to our customers. ... Learn more: http://spr.ly/6019HddQb

#FastmarketsAgriculture #agriculture #acquisition

Join us at our first virtual Hemp Conference looking at Hemp Fiber, Flower and CBD - https://thejacobsen.com/events/hemp-conference #hemp #cbd #cbg #industrialhemp

Load More...