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…
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...