Soybean oil prices have fared well in recent days; trend unlikely to continue

Soybean oil prices hit a multi-year low of 29.32 cents per pound on January 29. The last time prices were at that level was the week of December 8, 2008.  Since the 29^th prices have bounced, hitting a recent high of 32.58 on February 13^th.  The last couple trading days has seen SBO prices drift lower, today testing support around 31.50 before recovering.

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