Soybean Oil Futures Fall on Fund Liquidation in Oil Share
Vegetable oil markets were mixed on Thursday as the rally on Wednesday in soybean oil prices contributed to strength in palm oil, but the liquidation of long oil share positions weighed on soybean oil futures. Overnight strength in crude oil prices also supported palm oil values, but a steady move lower during U.S. trading hours contributed to the bearish tone in the soybean oil market. Crude oil ended the day down about 3/4 percent but settled about 1/2 percent above the low of the day, which occurred at the closing of agricultural trading. Cash vegetable oil markets around the world have fallen sharply in the past week and may contribute to weakness in futures prices in the short term.
Soybean oil futures declined by more than one percent (December contract -36 basis points per pound). Selling above the upper…
11.13.2024
Neste, Air Canada sign SAF agreement for Vancouver
Finnish transport fuel producer Neste and Air Canada have signed an agreement for the delivery of approximately 20 million gallons of sustainable aviation fuel (SAF) for use by the...
11.13.2024
CWG prices up slightly; DCO movements mixed
The US animal fats and oils markets remained mostly stable to slightly higher on Wednesday November 13, with a modest increase in trading, though many participants continued to exercise...
11.13.2024
2024/25 grain consuming animal unit headcounts increase by 0.39%
Meat and bonemeal, porcine and ruminant, Missouri River were lower on Wednesday November 13. Market sources told Fastmarkets that there are varied poultry and layer feed demand levels, with...