1. In terms of U.S. soybean oil, it can be said that the negative is out. At a later stage, the market trading driver will turn to South America. Canadian canola production will be greatly reduced. Global soybean supply and demand is in a tight balance. Continued tension on the supply side makes it easy for oil prices to rise but difficult to fall.
2, according to the U.S. Department of Agriculture (USDA) data released on Monday, the week ending December 2, the inspection of U.S. soybean exports of 224,666,640 tons. Earlier, analysts estimated the range to be 185-2,325,000 tons, which was revised to 2,258,305 tons in the previous week, compared with an initial value of 2,142,844 tons.
3. The CBOT January soybean futures contract rose 3-1/4 cents to close at $12.67-3/4 a bushel. For the week, the contract gained 0.04 percent.The January soybean oil contract fell 1.16 cents to close at 53.69 cents a pound.For January, the soybean meal contract gained $7.1 to settle at $366.80 a short ton. For the week, soybean meal futures rose 2.3 percent and soybean oil fell 6.2 percent.
About futures
1. Futures, as a kind of financial derivatives, are mainly used to hedge the risks brought by the spot market. Futures is a standardized contract developed from forward contracts, which is a contract with others to buy forward commodities for hedging purposes.
2. Futures purchased on an exchange are standardized contracts designated by the futures exchange. The contract specifies the object of the transaction, the time, place, quantity and quality of the transaction. Physical delivery can be made at the expiration of the contract.
U.S. soybean oil futures
1, U.S. soybean oil futures are listed and traded on the Chicago Board of Trade futures varieties. in July 1950, the Chicago Board of Trade (CBOT) launched the U.S. soybean oil futures contract with soybean oil as the underlying. After the listing of U.S. soybean oil, welcomed by many investors, is the Chicago Board of Trade one of the most active trading varieties.
2, soybean oil and soybean meal are downstream products of soybeans. One ton of soybeans can produce 0.8 tons of soybean meal and 0.2 tons of soybean oil. In the CBOT soybean varieties series, soybean oil's annual trading volume and position share remains at 20-30%. U.S. soybean oil futures prices and soybean supply and demand are closely related. The high and low prices of soybeans directly affect the production costs of soybean oil. In addition to soybeans, soybean meal prices, canola oil, peanut oil and other soybean oil substitutes also have a certain impact on soybean oil futures prices.