Heating oil managed to sidestep yesterday’s decline in oil but couldn’t get out of the way of today’s beating. The May crude oil future mercifully expired allowing full attention to shift to June. The June contract did not fare any better, as the forward price plunged 43 percent to $11.57 cents per barrel. Heating oil loosely followed, dropping more than 18% to 72.69 cents per gallon.
The bean…
11.15.2024
October soybean crush reaches all-time monthly high; biofuel demand limits rise in soybean oil stocks
The National Oilseed Processors Association (NOPA) reported the October soybean crush at a record monthly high of 199.9592 million bushels, eclipsing the previous record of 196.406 million bushels set...
11.15.2024
UCO 2025 market clouded by China’s cancellation of export rebate
China will cancel its current 13% export tax rebate for used cooking oil (UCO), a key biofuel feedstock, effective December 1, the country’s Ministry of Finance and the State...
11.15.2024
US animal protein prices steady to firmer week on week; SBM under pressure
The US animal proteins market was steady to higher in the week to Friday November 15. Even with decreases in Chicago Board of Trade (CBOT) soybean meal futures, prices...