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Vegetable oil prices were mixed on Friday as fund spreading lifted the front end of the soybean oil curve despite lower soybean futures. For February, the benchmark soybean oil contract rose about 13.7% and palm oil gained 11.2%, supported by bullish world vegetable oil fundamentals and record cash prices.
Strong vegetable oil gains and a wide soyoil-palm spread have slowed U.S. soyoil export demand, while the soyoil-heating oil spread at multi-year highs supports biofuel-linked demand for soyoil.
thejacobsen.comTore AldenFeb 26, 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.
