Markets End October in a Fog
The month closed quietly in the physical market, with almost no barge activity in the ARAG window. RME settled at +719 over ICE gasoil, while all other grades finished below their monthly averages. The stillness in the barge trade contrasted sharply with the paper market, where both FAME and UCOME contracts saw heavy end-of-month positioning. Week 44 volumes in Northwest Europe jumped more than 200% from last week, a clear sign of fund unwinding before November roll dates and Dec bean oil options expiry in 21 days.
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