Palm oil prices continued to surge has as potential weather conditions and declining supplies are buoying prices. There is a growing realization that the El Nino may be even more severe than the one in 1997. The weather phenomena will hurt production and supply and prices should continue to rise. This coupled with weakness in Asian currency against the U.S. dollar will benefit price action.
Commodity…
11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
11.22.2024
Gulf prices average higher despite weeklong declines in SBO
For the week ended Friday November 22, packer bleachable fancy tallow (BFT) remained unchanged from the previous week’s average, while Gulf Coast-delivered tallow rose 2.7%, primarily...
11.22.2024
Bloodmeal largest price mover week on week; November cattle on feed higher
US animal protein prices were mixed to mostly higher for the week to Friday November 22, with only meat and bonemeal showing a slight price reduction due to tighter...