Profit-Taking Drives Vegetable Oil Prices Lower
World vegetable oil prices were mostly lower Thursday on profit-taking following a rally over much of the last two weeks. Weakness in crude oil futures also contributed to the bearish tone, but fundamental data also pressured palm oil.
Soybean oil futures were narrowly mixed with nearby contracts down less than 1/4 percent (July contract -4 basis points per pound) while some deferred prices rose more than 1/4 percent (July 2021 contract +10 basis points). Prices traded substantially lower in the overnight session on weakness in crude oil. However, a sharp rally in soybean futures dragged soybean oil prices higher to erase most of the overnight…
05.01.2024
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...
05.01.2024
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...
05.01.2024
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...