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Blog

Bean Oil Futures Pull Back on Rainy Weather Forecasts

Alexandra Watts | 06.28.2023

Soybean oil futures moved lower on Wednesday, as participants booked profits after the nearby contract settled above 60 cents per pound a day earlier. Forecasts for rainfall in drought-impacted areas of the Corn Belt also pressured markets. In Chicago, nearby July soybean oil futures ended at 59.62 cents per pound, down 93 basis points per pound, or 1.54 percent. The August contract finished at 57.67 cents per pound, down 123 basis points, or two percent, on the day.

Although extended forecasts suggest above-average...

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Quiet Tone for Tuesday; Pasture and Range Conditions Mixed

Trades on animal proteins for the day were indicated as generally steady with most participants communicating a quiet start...

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Drought Continues to Expand, Crop Conditions Suffering

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Corn gluten items have been volatile, resulting in broad price ranges. Interest...

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Black Sea Organic Soybean Export Volume Grows

Organic soybean and soybean meal imports continue to flood into the US. ...

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Bean Oil Futures Pull Back on Rainy Weather Forecasts

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