One-Third of U.S. Diesel Leaves as the Pump Nears $6/Gal
The soybean oil curve is sending a stronger warning than yesterday. October versus January is around -0.55 cents/lb after trading above +2 cents/lb during June, a reversal of roughly 2.5 cents/lb. October BOGO is around +$148/mt after breaking the +$160 area, versus more than +$650/mt earlier this year. On the weekly chart, the market has moved back toward levels seen before the 2025 rally. My expectation is for +$100/mt to be tested next. A break below +$100 puts the previous low area around +$50/mt back in view.
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