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Tighter soybean oil outlook

Monday, July 10, 2023 at 2:16:52 p.m. UTC

1. Soybean Oil Is strong because Malaysian palm oil production is expected to be less than expected.  Plus, smaller USA soybean crop.  This is a bullish factor for canola.

2. Speculators are still long soybeans and wheat.  They are short corn. Corn was pushed below $5/bu which resulted in Lethbridge feedlots purchasing large volumes of corn.

3. Dutch government has collapsed. This adds more political uncertainty globally, as Holland is a 1st world country.

This week’s Action Item:

Canola looks as if it will try to hit 800 on the futures. This should give $18/ bu. This is a good place to make some sales.


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