US cash vegetable oil markets were sluggish on Monday July 15. Most eyes were glued to soybean oil futures in Chicago, which ended lower following a volatile session; prices plummeted early in the day before losses were pared.
On the Chicago Mercantile Exchange, August soybean oil futures closed at $0.4642 per lb on Monday, down by 23 basis points per lb, or 0.5%, from $0.4665 per lb on Friday July 12.
Soybean oil futures initially sold off sharply after the weekend’s failed assassination attempt against former US President Donald Trump. The shooting increased market speculation that Trump could win another term following the November US presidential election.
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