** Amanda is out of the office until Friday, March 1. In her absence, please contact Bob Lane – [email protected]**

Soybean oil prices reversed course and pushed higher on Monday, despite the latest Commitment of Traders report showing money managers increasing their net short positions, or bets on lower prices for soybeans. March soybean oil values increased 38 ticks to 44.40 cents per pound, reaching their highest level since last Wednesday. Front month soybean prices climbed three points to 11.36 per bushel. The market could be expecting a rebound in soybean oil prices, given tight U.S. soybean oil supply, and expected strong feedstock demand from the biofuel sector as the Rodeo Renewed refinery is forecast to ramp up operations next month.

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