Soybean oil's significant rise lacks momentum, and in the short term, it is expected to remain in a high-level, slightly strong consolidation trend.

Last Friday, CBOT soybean oil futures closed lower. The benchmark contract fell 0.9% at close. After the new biofuel regulations were formally published, the market faced clear pressure from profit-taking. Last Friday, Malaysian crude palm oil futures rose for the second consecutive day, mainly supported by gains in external edible oil futures and higher international oil prices. Due to concentrated maintenance in oil mills, crushing volumes declined, supply tightened at the margin, and ahead of the holiday, demand for stockpiling helped provide support; trading was mostly driven by just-in-time needs. However, downstream buyers were more cautious about higher prices, and combined with expectations of a bumper soybean harvest in South America, there was insufficient momentum for a sharp rise in soybean oil. In the short term, it is expected to remain in a high-level, slightly bullish consolidation trend. (Feed Industry Information Network)