Soybean Oil Falls Ahead of Monthly USDA Data
World vegetable oil prices fell on Monday, but despite the decline, the benchmark contracts in the soybean oil and palm oil markets settled between the upper Bollinger band and five-day exponential moving average, suggesting the recent trend remains intact. However, selling in the front end of the soybean curve could mean further downside risk for vegetable oil futures. The weather forecast for Argentina turned drier over the weekend, but unexpected rainfall in Cordoba during the weekend, may have contributed to profit-taking on Monday.
The declines left the spread between the May soybean oil and palm oil contracts just above 8.19 cents per pound. However, the spread settled at the lower end of the day’s range between eight and 9.58 cents. The July spread settled just below 10 cents, a level providing significant resistance in…
01.07.2025
Biodiesel imports climb 10% from 2-year low; exports fall to lowest level since January 2024
US Census Bureau data released on Tuesday January 7 showed a monthly divergence in biodiesel imports and exports. Biodiesel import volume rose from a two-year low last month, climbing...
01.07.2025
Packer BFT trades higher; rising HO/SBO prices lift UCO sentiment
Three railcars of packer-grade bleachable fancy tallow (BFT) traded higher at 45 cents per lb, Chicago basis on Tuesday January 7.
Apart from this trade and continued activity in choice...
01.07.2025
Poultry by-product pet grade lower on export unease, possible winter weather in Mid-South, Southeast
US animal proteins had limited price changes indicated on Tuesday January 7 due to a quiet tone reported by multiple market sources.
Price pressure was reported on poultry-related...