Earlier today Steve Mnuchin, Secretary of the US Treasury Dept, stated “It can be assumed that the Trump administration is looking at the US government taking stakes in energy companies as one option. The administration is looking at several options to help the oil and gas industry.”
More than 2.4 million barrels of crude is to be delivered to Cushing next month in fulfilment of WTI Contracts, exchange operator CME Group disclosed on Wednesday.
Mercifully, the week came to a close for crude oil, which saw value drop more than 7 percent. Heating oil prices experienced a steeper decline, falling over 32 percent to 64.67 cents per gallon. Heating oil futures are down more than 68 percent relative to a year ago. Soybean oil futures dropped nearly five percent, closing the week at 25.05 cents per pound and…
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...