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December soybean oil closed at 61.51 cents, its highest weekly close in over a month, while November crude oil reached a contract high of $79.35. Chinese soybean crush plants were closed as part of an energy-conservation effort, pushing Chinese soybean oil prices to a new high and encouraging buyers toward Malaysian palm oil.
Higher crude and energy-driven vegetable oil demand support soybean and palm oil prices, improving crush incentives that increase soybean meal supply. Feed buyers should watch rising oil costs feeding into broader feed input prices.
dtnpf.comTodd HultmanOct 11, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
