Between soybean oil, meal and beans, Ted Seifried of Zaner Ag Hedge thinks the soy oil market has the most interesting story of the three.
Last week, 30,000 metric tons of soybeans were sold to brazil, increasing the export number more than the trade expected.
“Soybean oil has been under a tremendous amount of pressure,” he told AgDay’s Clinton Griffiths. “We’re looking at some rather low prices compared to meal and beans.”
Seifried doesn’t understand the reasoning for this.
“While the crush has been very strong, the soybean oil yield has been historically low,” he said.
Hear his full analysis on AgDay above.