Rising Political Tensions Weigh on Soybean Oil Prices
Soybean oil futures were lower on Thursday on the increase in political tensions between the United States and China that triggered selling across the soybean complex. Technically driven selling at the upper Bollinger band also contributed to the weakness, but buying at the 5-day exponential moving average limited the decline. Futures fell by more than 3/4 percent (July contract -25 basis points per pound) but did not do any significant damage to the technical outlook for the market. Light oil/meal spreading by the funds limited the decline, but the activity was…
05.03.2024
Biodiesel imports fall to 8-month low in March; exports rise to 3-month high
Biodiesel imported into the US fell in March for the first time in four months while biodiesel exported from the US reached a three-month high.
Import demand from...
05.03.2024
BFT, soybean oil weekly average prices tumble
For the week to Friday, prices were broadly lower compared with the prior week’s average. Packer bleachable fancy tallow was down by 2.2% from the prior week’s average on...
05.03.2024
US animal protein prices remain under pressure; soymeal rises
US animal protein prices were mixed in the week to Friday May 3 but showed no large movements, with multiple market participants traveling for the Petfood Forum in Kansas...