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CBOT soybean oil futures fell about 5% over two sessions to USD 954/mt for Dec-24 delivery, despite a 1.9% monthly gain. The decline followed uncertainty over US green energy policy, while USDA trimmed the US soybean harvest forecast and Brazil's 2025 output was projected higher.
Policy uncertainty around biofuel incentives is weighing on soyoil, which is the main driver of domestic biodiesel demand and therefore soybean crush economics. Bearish policy sentiment is pressuring prices despite tighter US supply signals.
tridge.comXchel PerezNov 29, 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.
