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…
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Renewable diesel tops petroleum diesel as CA’s most blended diesel fuel in 2023
The consumption of renewable diesel (RD) in California reached a new milestone in 2023, with RD blending surpassing that of petroleum diesel for the first time. Data released on...
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Distillers’ corn oil production moves higher
Four cars of technical tallow traded lower on Wednesday May 1, down to 47 cents per lb Chicago basis.
Used cooking oil (UCO) and yellow grease traded...
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Animal protein prices steady amid avian flu outbreak
US animal protein prices were steady or up on Wednesday May 1 amid limited reported trade, with multiple market participants attending the Petfood Forum in Kansas City, Missouri, this...