Market Activity

Trading today was very quiet and a number of sources commented that much of December is already well sold. Sources remarked that yesterday $0.3100 may have been a buyable number on BFT, but today’s jump in the crude, heating and bean oil markets has likely pushed that number higher.

Today OPEC members agreed to a production cut of 3.6%, which translates into roughly a 1% cut of the global crude supply. The agreement pushed January crude contracts to settle…