Economic Optimism Drives Soybean Oil Rally
Soybean oil futures rallied Tuesday as a resumption of the rally in crude oil reflected increased optimism about the economy as state and local governments gradually relax restrictions put in place to slow the spread of the coronavirus. The rally drove soybean oil futures more than 2 1/4 percent higher (July contract +63 basis points per pound) and erased most of the decline that occurred in the last four days of last week. The…
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...