Soybean oil prices are consolidating after falling below support levels hovering near the 29 cents per pound level. Soybean oil stocks are elevated but recent data shows NOPA reported stocks below analyst’s expectations. The oil share has rebounded and remain stable as hedge funds exited from long position in meal, while remain short soybean oil futures and options.
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04.29.2024
Strong domestic biodiesel margins support rising crude glycerin inventory
Crude glycerin prices are holding steady to slightly lower in the week to Monday April 29, with improved biodiesel margins helping to keep the supply of glycerin strong.
04.29.2024
Gulf tallow prices higher; optimism builds for higher demand for June
Tallow traded higher into the US Gulf market on Monday April 29, up to 41 cents per lb delivered. Outside of the Gulf market, trading was quiet with sources...
04.29.2024
Animal protein prices steady at start of the week
US animal proteins were steady on Monday April 29. Limited trade was reported, with multiple market participants are expected to attend the Petfood Forum in Kansas City, Missouri, this...