Soybean oil futures initially moved higher on Friday July 12 in response to the release of the USDA’s monthly World Agricultural Supply and Demand Estimates (WASDE), with the August contract reaching an intraday high of $0.4780 per lb.
However, the contract soon resumed its slide. It settled Friday at $0.4565 per lb, down by 47 basis points per lb, or 1%, from a close of $0.4712 per lb on Thursday July 11.
The latest WASDE figures showed a few unexpected changes to the agency’s soybean and soybean oil balance sheets.
…
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...