Loading…
Spot basis for central Illinois and US Gulf crude-degummed soybean oil rose on July 9, while August soyoil futures fell 4.36% to $0.4695 per lb after a second straight session of losses. Fund liquidation and profit-taking drove the futures decline.
Firmer cash basis supports physical soyoil demand, but fund liquidation pressures futures and reduces the benefit of last week's rally.
thejacobsen.comAlexandra WattsJul 9, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
