Soybean Oil Prices Drift Lower on Profit-Taking
Soybean oil futures were mixed on Monday as lower oil prices and selling across the soybean complex weighed on values. Nearby futures fell by less than 1/4 percent (July contract -4 basis points per pound), while deferred contracts were unchanged (March 2021 contract) or rose by less than 1/4 percent (July 2021 contract +4 basis points). The selling was mostly technically driven profit-taking following sharp gains on Friday….
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...