Vegetable Oil Prices Mixed as Crude Oil Resumes Rally
World vegetable oil prices were mixed on Friday, while a volatile session in crude oil ultimately left prices higher. Crude oil traded lower in the overnight session, but rallied steadily in the U.S. session and was up more than $1 per gallon when soybean oil trading ended for the week.
Soybean oil futures traded on both sides of unchanged before settling marginally lower. However, buying at the 5-day exponential and 10-day moving averages helped to limit the decline. Soybean oil futures have consolidated the gains from the first two days of trading in the holiday-shortened week, but remain in the recent trading range. If crude oil remains supported, The Jacobsen would expect soybean oil…
04.18.2024
Total RFS blending falls in March, domestic biodiesel blending increases
The Environmental Protection Agency (EPA) reported 1.66 billion gallons of renewable fuel blended within the nation’s transportation fuel pool during March. Blending was six percent below February and...
04.18.2024
EU UCO premium to US continues to grow
The US animal fats and oils market was mostly quiet on Thursday April 18, with a handful of price changes reported. Choice white grease (CWG) into the Missouri River...
04.18.2024
Ruminant meat and bonemeal price pressure in most regions
Price pressure was reported on several regions for meat and bone meal, ruminant and porcine items. Market sources said buyer pushback and light demand, with exception to the pet...