Soybean oil futures sink in week’s opening session

Author: Alexandra Watts

Soybean oil futures sink in week’s opening session

Cash prices for most US vegetable oils were flat to lower on Monday April 29.

On the Chicago Mercantile Exchange (CME), the soybean oil futures market sank on profit taking and the liquidation of long positions by funds.

May soybean oil futures ended the session at $0.4369 per lb, down by 124 basis points per lb or 2.76%. July soybean oil futures closed at $0.4437 per lb, declining by 117 basis points per lb or 2.57%.

On Monday, the USDA’s crop...

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