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Soybean oil futures rose about 0.75% to a fresh post-pandemic high, with the December contract just above 32.5 cents per pound. Fund spreading added roughly 3,000 contracts to their long oil position, while palm oil gained over 1% but stayed below last week's high.
Fund buying and firm palm oil support soyoil prices, though technical resistance and the coming harvest may cap gains; the move is routine price commentary without a new supply shock.
thejacobsen.comTore AldenAug 26, 2020Not 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.
