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Chicago soybean oil has broken out of a months-long downtrend and prices are trading above October highs. The analyst expects the bull market to resume, citing the end of the record government shutdown and surging heating oil prices.
Renewed biofuel-driven strength in soybean oil supports crush economics and raises soy oil values, which tightens the oil-meal balance and supports the soybean complex.
Not 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.