Vegetable Oil Prices Rally Sharply As Crude Continues Rally
World vegetable oil prices moved sharply higher on Friday as crude continued its torrid move higher. Crude oil was more than five percent higher at the end of U.S. agricultural trading, which contributed to the gains in soybean oil and palm oil.
Soybean oil futures jumped about 1 1/2 percent (July contract +40 basis points per pound) despite the National Oilseed Processors Association’s (NOPA’s) larger-than-expected end-of-April soybean oil inventories estimate. NOPA reported soybean oil stocks among members totaled 2.11 billion pounds, which was above analysts’ expectation of 2.03 billion. The move left the July contract just below the trend line formed by the highs on April 13 and May 11. The rally over the last two days has driven the July contract to the upper end of the recent range. However, selling above…
02.21.2025
US animal fats and oils markets finish week strong; broader uncertainty persists
The US animal fats and oils markets ended Friday February 21 on a relatively quiet note, though broader market developments throughout the week have added ongoing uncertainty to the...
02.21.2025
Sausage casings bulletin, February 21, 2025
Runner market commentary
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02.21.2025
US weekly net soybean meal exports, sales retreat again
In the week to February 13, US net soybean meal and soybean cake sales and exports continued to decline but were above most analysts' estimates, data released by the...