CHICAGO (Commodity Online): Soy product futures end mixed, with soyoil futures continuing to gain value in the crush spread vs meal.
Traders are unwinding long soymeal/short soyoil positions, with soyoil garner support from firm Crude Oil prices and optimistic outlooks for increased demand for soyoil used in biodiesel production, analysts say.
CBOT March soyoil ended up 0.41c to 52.58c/lb, and March Soymeal ended down $3.70 at $321.70/short ton.
Courtesy: CME group