Soybean Oil Locks Limit Down as Volatility Soars
Soybean oil prices plunged on Thursday, with the front contract locking limit down three days after it locked limit-up. Once again, there was no obvious news driving the volatility. However, a sharp decline in crude oil prices and a decline in palm oil prices overnight may have contributed to the bearish tone. Fund liquidation of long oil share and bull spreads within the soybean oil curve also likely drove some of the selling.
The sharp decline in soybean oil futures drove the spreads between the May and July soybean oil and palm oil contracts sharply lower. The May contract fell by about 1.7 cents to just over 11 cents, while the July contract dropped about 1.3 cents to 11.3 cents per pound. The spreads settled on the lows of the day, but the May spread traded over 13 cents for the third time in the last three days. However,…
02.04.2025
Chicago, Gulf animal fats and oils markets strengthen despite ongoing uncertainty
The US animal fats and oils markets were stable to higher on Tuesday February 4, as Chicago market activity saw a notable uptick throughout the day.
Six railcars...
02.04.2025
Light trade volume leaves most US animal protein prices flat
Light trade volume was reported in the US animal proteins markets for Tuesday February 4.
Ruminant meat and bonemeal, Missouri River, was reported as steady from Monday February...
02.04.2025
December US soybean crush, corn consumption up month on month
US soybean crush above monthly, yearly levels
Soybeans crushed for crude oil totaled 218 million bushels in December 2024, up by 7% from November and by 4% from...