Profit-Taking Drives World Vegetable Oil Prices Lower
Vegetable oil prices were weaker on Monday due to a mix of overnight weakness in crude oil and weakness in the soybean complex. While neither of the moves in the outside markets was dramatic, they were enough to trigger profit-taking following sharp gains in soybean oil and palm oil futures on Friday. Soybean oil traders ignored a rally in crude oil prices during U.S. trading hours as meal/oil spreading weighed on soybean oil futures, while palm oil traders ignored bullish cargo surveyor data due to overnight weakness in crude oil prices.
Nearby soybean oil futures declined by more than 1/2 percent (July contract -17 basis points per pound). However, losses in deferred contracts were generally smaller as contracts with 2021 deliveries fell by about 1/4 percent (January 2021 contract -9 basis points). Selling at the…
02.04.2025
Chicago, Gulf animal fats and oils markets strengthen despite ongoing uncertainty
The US animal fats and oils markets were stable to higher on Tuesday February 4, as Chicago market activity saw a notable uptick throughout the day.
Six railcars...
02.04.2025
Light trade volume leaves most US animal protein prices flat
Light trade volume was reported in the US animal proteins markets for Tuesday February 4.
Ruminant meat and bonemeal, Missouri River, was reported as steady from Monday February...
02.04.2025
December US soybean crush, corn consumption up month on month
US soybean crush above monthly, yearly levels
Soybeans crushed for crude oil totaled 218 million bushels in December 2024, up by 7% from November and by 4% from...