Rally in Crude Oil Lifts World Vegetable Oil Prices
A bounce in crude oil prices helped world vegetable oil markets recover a small portion of the declines posted on Tuesday. However, the commodities recovered from oversold levels, and the strength of the bounce is questionable. There is still little if any, storage in Cushing and the world remains historically oversupplied with crude oil, so if crude prices can not sustain the recovery, world vegetable oil prices could resume the move lower.
Soybean oil futures gained a little more than 3/4 percent (July contract +23 basis points) and settled well below the high of the day. However, the move was enough to leave the most actively traded July contract back within the…
04.18.2024
Total RFS blending falls in March, domestic biodiesel blending increases
The Environmental Protection Agency (EPA) reported 1.66 billion gallons of renewable fuel blended within the nation’s transportation fuel pool during March. Blending was six percent below February and...
04.18.2024
EU UCO premium to US continues to grow
The US animal fats and oils market was mostly quiet on Thursday April 18, with a handful of price changes reported. Choice white grease (CWG) into the Missouri River...
04.18.2024
Ruminant meat and bonemeal price pressure in most regions
Price pressure was reported on several regions for meat and bone meal, ruminant and porcine items. Market sources said buyer pushback and light demand, with exception to the pet...