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Soybean oil futures showed a slight carry structure, with May at 54.57 cents and July at 54.70 cents per pound. US soybean processing is near record levels and renewable diesel demand remains strong.
A firming soyoil curve signals a possible bottom and renewed demand from biofuel and food users, which supports soyoil prices and the crush margin that drives soymeal supply.
czapp.comWalter CroninApr 19, 2023Not 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.
