Soybean Oil Technical Look: Too far too fast?
The soybean oil futures market has been on fire. As of last Friday’s close (AUG 2023 Futures), the market was up 31.29% from its bottom in 12 trading days. The last twelve trading days are about as strong a technical move as you will see. Underneath the technical move is a solid fundamental supply/demand story and the current deterioration of N.A. crop conditions because of a lack of moisture.
See the two below charts for more insight.
Soybean Oil Technical Look: An extreme reading for soybean oil?
Recently the soybean oil market closed at the furthest distance from the 30-week moving average since the Great Financial Crisis in late 2008. This is the 2nd most extreme reading for soybean oil’s performance against its prior 30-week performance in fifty years.
Why is this significant?
Taking a Healthy Approach to a Volatile Oil Market
Jason Thomas and Lee Colonna of Healthy Brand Oil were recently featured in Spectrum Magazine, discussing how global events affect edible oil production and pricing.
Article on Healthy Brand Oil in FSR Magazine
FSR Magazine wrote an article focused on the creation of Healthy Brand Oil and how Mayor Bloomberg’s decision to ban trans-fats in New York City
HBO-Fryer Fuel Advantage Press Release
Healthy Brand Oil 2017 announcement introducing Fryer Fuel Advantage, our high oleic soybean frying oil. With a unique oil profile, Fryer Fuel Advantage extends fry
AgriMarkets and Beyond 12.21.22
The soybean oil market is currently @ .6641. Higher commodity markets across the board this morning, led by wheat +2.86%. Soybean oil is slightly higher
AgriMarkets and Beyond 01.13.23
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