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February 2017 NY Harbor ULSD futures fell 1.8% to settle at $1.66 per gallon on December 21, 2016, despite a drop in distillate inventories. Bearish crude oil prices pressured diesel, while EIA data showed US on-highway diesel rising 1.2% to $2.52 per gallon for the week ending December 19.
Diesel is a major freight and farm input cost, so lower futures ease transport and fuel expenses for feed buyers. The move tracks crude, so direction for feed prices is limited.
marketrealist.comGordon KristopherDec 22, 2016Not 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.
