Vegetable Oil Prices Mixed, but May Head Lower
World vegetable oil markets were mixed on Wednesday as both soybean oil and palm oil traders largely ignored the movement in the energy market. Crude oil remained under pressure for most of the overnight session and during U.S. trading hours and was down about two percent at the close of U.S. agricultural trading.
Soybean oil futures fell more than 1 1/4 percent (July contract -35 basis points per pound) as broad selling across agricultural futures and weakness in soybean prices triggered selling. Fund oil share spreading also weighed on prices. The decline left the most actively traded July contract back below the psychologically important 26-cent level, which erased most of the gains made last week.
Palm oil futures gained almost two percent (July contract…
10.17.2024
US DOE to guarantee nearly $3 billion in SAF loans to Gevo, Montana Renewables
The US Department of Energy’s Loan Programs Office announced on Wednesday October 16 conditional commitments for up to $2.9 billion in loans for two sustainable aviation fuel (SAF) producers.
10.17.2024
US fats and oils markets quiet amid industry event; DCO production up
The US animal fats and oils markets were quiet on Thursday October 17, with the majority of participants attending the American Fats and Oils Association (AFOA) event in Nashville.
The...
10.17.2024
US animal proteins market steady on October 17
US animal protein prices were steady on Thursday October 17, with market participants indicating a slow day for trading.
September USDA Feed Outlook
Grain consuming animal units (GCAUs)...