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DTN analysis notes that August soybean oil prices found technical support near multi-year lows in late June, with a new low quickly reversed. Soyoil peaked above 80 cents per lb in April 2022 and has since roughly halved amid regulatory disappointments and competing feedstocks.
A reversal from new lows could signal a bottom in soyoil and palm oil, but competing feedstocks and weak RFS policy still limit upside.
dtnpf.comTodd HultmanJul 8, 2024Not enough comparable past events yet for a historical read.
Not 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.
