Concerns About Rising Inventories Continue to Pressure World Vegetable Oil Prices
World vegetable oil prices continued to move lower on Wednesday as concerns about demand and weakness in crude oil prices triggered selling. The move was not as correlated with crude oil as the end of the day prices might suggest as vegetable oil prices fell right from the opening of trading during the overnight session and the decline accelerated when crude oil started to move lower.
Soybean oil futures fell about 1 3/4 percent (July contract -47 basis points per pound) as selling across the soybean complex due to concerns about rising tensions between the United States and Chinese governments added to the pressure from the bearish fundamentals. The decline was the largest daily change in more than a week and left the most actively traded July contract back below the…
05.03.2024
Biodiesel imports fall to 8-month low in March; exports rise to 3-month high
Biodiesel imported into the US fell in March for the first time in four months while biodiesel exported from the US reached a three-month high.
Import demand from...
05.03.2024
BFT, soybean oil weekly average prices tumble
For the week to Friday, prices were broadly lower compared with the prior week’s average. Packer bleachable fancy tallow was down by 2.2% from the prior week’s average on...
05.03.2024
US animal protein prices remain under pressure; soymeal rises
US animal protein prices were mixed in the week to Friday May 3 but showed no large movements, with multiple market participants traveling for the Petfood Forum in Kansas...