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.
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02.04.2025
Chicago, Gulf animal fats and oils markets strengthen despite ongoing uncertainty
The US animal fats and oils markets were stable to higher on Tuesday February 4, as Chicago market activity saw a notable uptick throughout the day.
Six railcars...
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Light trade volume leaves most US animal protein prices flat
Light trade volume was reported in the US animal proteins markets for Tuesday February 4.
Ruminant meat and bonemeal, Missouri River, was reported as steady from Monday February...
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December US soybean crush, corn consumption up month on month
US soybean crush above monthly, yearly levels
Soybeans crushed for crude oil totaled 218 million bushels in December 2024, up by 7% from November and by 4% from...