Soybean Oil Commodity Markets, Prices & Futures
Use the chart below to check futures prices for soybean oil. Click the contract dates for more prices and trends. Cash price reflects the USDA Chicago terminal.
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Latest News From Soybean Markets
Vince Boddicker, Farmers Trading Company, says with corn rated at 75% good to excellent the market sees the crop getting off to a good start, so the mentality has changed to “rain makes grain.”
Grain and livestock futures ended mostly in the red on Tuesday. Vince Boddicker, Farmers Trading Company, says the mentality in grains as turned to “rain makes grain”, especially with the favorable crop ratings.
Sustainable aviation fuel (SAF) won’t be commonplace anytime soon because its production is being hindered by significant land requirements and rising costs, according to Oilprice.com.
Grains turn mixed after early pressure. Jon Scheve with Superior Feed Ingredients says the markets are searching for direction, but weather is still the main focus. He has marketing advice.
Corn-for-ethanol use totaled 416.9 million bu. in April, well below analysts’ expectations.
Alan Brugler, Brugler Marketing, says it was a risk off day in grain markets which were removing risk premium. They also did technical damage.
Alan Brugler, Brugler Marketing, says it was a risk off day in grain and cotton markets removing weather premium. The lack of money flow into grains, the stock market and crude oil was also evident to start June.
Consultancy StoneX cut its Brazilian safrinha corn crop forecast by 3.9% from last month. StoneX also cut Brazil’s 2023-24 soybean crop, which has been nearly totally harvested.
Cattle fall after lower weekly closes and softer cash trade, holding chart support. Hogs struggle on fund selling. Soybeans pull corn lower and wheat off its highs. Brad Kooima, Kooima Kooima Varilek, has more.
Grain futures ended lower for the week removing weather premium. Naomi Blohm, Total Farm Marketing, says, “It feels like it’s doing a warning shot just to remind us that the crop is getting planted.”