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U.S. soybean oil futures pulled back from record highs set on Monday, though they held above 70 cents per pound. Tight supplies and biofuel demand remain the main supports.
New-crop contracts were posting bigger gains on concern about the upcoming harvest.
Vegetable oil prices are feeding into record global food costs and raising feed costs for meat processors. Soyoil strength keeps crush economics favorable, which supports meal supply expectations.
financialpost.comReutersJun 8, 2021Not 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.
