Soybean oil futures on the Chicago Mercantile Exchange rose for a third consecutive day on Wednesday July 3. With managed money holding a very large amount of net short positions, traders once again covered themselves in light trade before the US Independence Day holiday on Thursday July 4.
The August soybean oil futures contract reached fresh multi-month highs, settling at $0.4864 per lb on Wednesday, up by 160 basis points, or 3.4%, from a close of $0.4704 per lb on Tuesday July 2. Over the last three trading sessions, August soy oil futures gained 457 basis points per lb, or 10.37%, since June 28.
…
12.20.2024
45z guidance fails to appear; government scrambles to pass spending bill
The US government spending bill failed twice in as many days. If a deal is not reached by midnight on Friday December 20, some federal services will...
12.20.2024
US animal fats and oils end week softer across the board ahead of holiday slowdown
Prices for US animal fats and oils ended the week on a lower note on Friday December 20, with most markets trending downward ahead of the upcoming holiday week,...
12.20.2024
December cattle on feed down on month, year
Most US animal protein prices were rangebound for the week, though in wider ranges due to the impending Christmas and New Year's holiday closures.
The only significant price...