World Vegetable Oil Prices Rally
World vegetable oil prices rallied on Friday as crude oil continued to move higher. A steady rally in crude oil prices and bargain hunting and technically-driven buying helped lift soybean oil and palm oil markets. Crude oil finished the week below the high set on Thursday, but traders remain more optimistic about growing energy demand as the world economy reopens from the coronavirus induced shutdown.
Soybean oil futures settled about one percent higher (July contract +28 basis points per pound). The rally drove the most actively traded July contract above the trendline formed by the highs set on April 13 and May 5, which negates the negative technical outlook highlighted in the commentary…
12.20.2024
45z guidance fails to appear; government scrambles to pass spending bill
The US government spending bill failed twice in as many days. If a deal is not reached by midnight on Friday December 20, some federal services will...
12.20.2024
US animal fats and oils end week softer across the board ahead of holiday slowdown
Prices for US animal fats and oils ended the week on a lower note on Friday December 20, with most markets trending downward ahead of the upcoming holiday week,...
12.20.2024
December cattle on feed down on month, year
Most US animal protein prices were rangebound for the week, though in wider ranges due to the impending Christmas and New Year's holiday closures.
The only significant price...