Vegetable Oil Prices Continue to Climb
World vegetable oil prices continued to move higher on Tuesday as growing import demand and rising crude oil prices supported prices. The gains have not been limited to the futures markets or palm oil and soybean oil with rapeseed oil and sunflower oil cash prices also rising. An increase in demand from China and India that are driven, in part, by tight inventories is behind the surge in import demand, while gains in crude oil are supporting profitability and potential demand in the biofuel sector.
Soybean oil futures rose almost 1 1/4 percent (July contract +34 basis points per pound) to settle at the highest level since March 10. The rally left the most actively traded July contract above the upper end of the recent trading range and clears the way, technically, for prices to rise to…
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,...
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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...