Vegetable Oil Prices Mixed on Directionless Crude Oil
World vegetable oil prices were mixed on Friday with nearby soybean oil and palm oil prices unchanged or slightly higher, while deferred contracts ended the week marginally lower. Crude oil prices traded on both sides of unchanged but were also close to Thursday’s close at the end of agricultural trading. Equity markets traded in a volatile session as traders try to gauge the impact of a resurgence in the coronavirus outbreak in critical states. To the extent equity prices reflect expectations for the economic recovery, their movement in the coming week may provide some insight into the trend in oil prices over the next several weeks.
Soybean oil futures settled less than 0.1 percent on either side of unchanged, but traded higher in the overnight session and lower during U.S. trading hours as prices largely followed…
11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
11.22.2024
Gulf prices average higher despite weeklong declines in SBO
For the week ended Friday November 22, packer bleachable fancy tallow (BFT) remained unchanged from the previous week’s average, while Gulf Coast-delivered tallow rose 2.7%, primarily...
11.22.2024
Bloodmeal largest price mover week on week; November cattle on feed higher
US animal protein prices were mixed to mostly higher for the week to Friday November 22, with only meat and bonemeal showing a slight price reduction due to tighter...