Bean oil prices tested fresh highs for 2016, pushing above trend line resistance despite hedge fund traders reducing positions into this up move. Managed money was clearly on the right side of the trade, and it appears that they might be reducing some of their long positions as the market moves higher. Traders are somewhat leery ahead of the Fed’s interest rate decision which is scheduled for March 15 and…
11.21.2024
Domestic US biodiesel blending helps lift October RFS RIN production
US domestic biodiesel blending of 147.5 million gallons in October produced a monthly high of 221.2 million renewable identification number (RIN) credits for January-October. This was 11.5% above September...
11.21.2024
CWG trades lower as broader animal fats markets hold steady
The US animal fats and oils markets held steady on Thursday November 21, with limited trading as attention shifted toward broader macroeconomic factors and...
11.21.2024
October commercial cattle, hog production above 2023
US animal protein prices were steady on Thursday November 21. Limited trade was reported from market sources due to the proximity of the extended Thanksgiving holiday weekend in the...