Soybean Oil

Earlier this morning we Saw talk of an Executive order to change ethanol mandates and help U.S. Bio fuel demand. This afternoon white house said no E.O. changing the mandate for ethanol. Soy oil collapsed,corn dropped and soybeans gave back more than half there  half daily gains.I beleive this story is not over

 

Crude Oil had a real nice rally into the close almost 100 ticks as the Monthly EIA  production data December crude dropping 91kbd   and November revised lower as well.I dont think this  is a trend that will last  but for today was a reason to buy em up into the close.Support in the crude  complex@$53.12  was not broken  so another reason a rally into the close.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.