Soybean oil and corn remain green in Chicago

The soybean complex once again traded in a scattered manner this Wednesday evening in Chicago, with a decline in meal and bean prices, but a new rise in soybean oil to two-month highs. The expected arrival of rain in Argentina and the prospect of a record harvest in Brazil are certainly weighing on the sector, but the rapid upward recovery in crude oil prices is at the same time providing support to the entire biofuel sector. Corn also benefited from this recovery in black gold to build new highs of more than a year, despite ethanol stocks that jumped by another 900,000 barrels last week, to reach their highest level since April 2024 (25 Mb). The weakening of the dollar after reassuring inflation figures across the Atlantic also gave the market an additional boost. Wheat, however, remains stable in ...