CBOT soybean oil weekly
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Last Update: 2008-11-03
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Source: Internet
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Author: User
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Introduction: in the week ending March 4, soybean oil futures on the Chicago Board of trade (CBOT) closed higher, but lower than this week's high, showing a trend of high oscillation Due to the downturn of Malaysian palm oil futures market, the Chicago Board of trade announced to raise the margin level of soybean oil futures from Friday The market felt that the recent increase of soybean oil was too large and the technical indicators were overbought, so it may need to be recalled In addition, the U.S soybean oil lacks export competitiveness in the world market, and consumers' purchase interest is weak Let's review the market trend of this cycle On February 28, soybean oil futures closed sharply, and the price of the futures rose again to a five-month high On March 1, soybean oil futures closed in the middle of the day On March 2, soybean oil futures closed mostly modestly higher On March 3, soybean oil futures closed lower, following declines in soybeans and soybean meal On March 4, soybean oil futures closed higher, with the strongest trend among soybean products On March 4, CBOT may soybean oil closed at 23.30 cents, up 0.53 cents
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