Soybean oil decouples from complex under RFS pressure

Futures activity Jan-23 soybean meal futures closed at $424.10 per short ton on Friday, up $12.40 for the week. Jan-23 soybean oil futures fell precipitously last week, starting at $0.7312 per pound Monday and closing Friday at $0.6522 per pound, down 11 percent. S&D [...]

Natural gas inventories pull even with benchmarks

For the first time this year, natural gas storage underground reached 2021 levels and seems set to catch up with the five-year average. Atypically warm weather across much of the eastern U.S. during October and the first half of November allowed a greater build [...]

Soybean oil pushes higher with crude oil

Futures activity Nov-22 soybean futures closed higher Friday, up $0.25 at $14.52 per bushel. Dec-22 soybean meal rallied on Friday, Oct. 28 but was still down for the week, closing at $420.40 per ST. The likewise soybean oil contract ended last week up nearly [...]

Trapped in a commodity market funhouse?

Maybe the funhouse seemed like a harmless way to spend a warm afternoon at the corn carnival (we all call the corn market that, right?): You knew your market’s fundamentals, so how about a little thrill-seeking among gently distorted market factors? You knew logistics were [...]

Mild start to fall helps natural gas stocks recover

With the end of summer heat and milder temperatures across the U.S., the Energy Information Administration’s reports a clear boost to natural gas inventory. Recent weekly reports show stocks growing by over 100 billion cubic feet (Bcf) per day, helping to narrow the gap [...]

Soybean oil prices rise with WASDE looming

Futures activity Soybean oil prices saw plenty of lift last week, with Dec-22 futures rallying 4.5 cents per pound back up to 66.60 cents per pound. The H1 2023 futures strip average is near 63.75 cents per pound. S&D and fundamental factors OPEC+ announced [...]

Gas leaks suspend Nord Stream 1 pipeline operations indefinitely

Massive leaks of natural gas from Nord Stream 1, an offshore pipeline connecting Russia and Western Europe, were reported in the Baltic Sea. The cause of the incident is still under investigation, but the near-simultaneous occurrence of at least four leaks makes sabotage a [...]

Corn market surprised by bullish September stocks report

Futures activity After a relatively calm week, corn futures propelled to $7 per bushel during trading on Friday following the release of the September Grain Stocks report. S&D and fundamental factors In the Grain Stocks report, 2021 figures were revised lower, with both planted [...]

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