Futures activity

  • Soybean oil prices were hit hard Friday, falling 2.20 to 2.80 cents per pound. Jan-23 futures closed at a two-week low of 62.82 cents per pound. Spot soybean oil (Oct-22) is now around 67 cents per pound.

S&D and fundamental factors

  • The U.S. soybean crop’s condition fell 1 point to 55 percent good to excellent as of Sep. 18. There are concerns that soybean yield may slip further from USDA’s current estimate of 50.5 bushels per acre due to a dry September and end to the pod-filling stage. Frost/freeze in North Dakota this week may have ended the growing season for some late-planted crops.

Weather, macro indicators, and news

  • The Fed announced another 75 -point increase to interest rates on Wednesday as anticipated—the third straight 75-point hike.

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Source: 123rf.com
Posted by: Information Services
Our Information Services team assists our clients with understanding commodity and ingredient market dynamics. Using our extensive database of intelligence, we also produce regular commodity and commercial market publications covering supply and demand fundamentals, news alerts on events that shape the markets, and resource guides to give you a complete picture of the industries we monitor.