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Physical vegetable oil trading slowed sharply in the week to April 10 as bids and offers on soybean oil widened amid ample supply and weaker renewable diesel demand. The futures curve is in steep contango, encouraging crushers to store product rather than sell at cheaper cash bids.
Contango and storage incentives signal surplus soybean oil supply that caps near-term cash prices until stocks are rebuilt.
thejacobsen.comAlexandra WattsApr 10, 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.
