Vegetable Oils Narrowly Mixed Following Reports
Vegetable oils were narrowly mixed on Friday as the fundamental reports largely had limited impacts on traders’ outlooks for prices. Prices moved in the opposite direction of crude oil, which was lower in the overnight session but rallied sharply during U.S. trading hours.
Soybean oil futures fell by about 1/4 percent (September contract -7 basis points per pound) as the United States Department of Agriculture (USDA) raised its forecast for U.S. soybean oil ending stocks slightly in both 2019/20 and 2020/21. USDA increased its forecast for soybean crush, which lifted its predictions for supplies but offset those most of those increases with larger projections for exports in both years. The changes were generally in line with The Jacobsen’s pre-report balance sheets, with the most substantial disagreement occurring in…
05.03.2024
Biodiesel imports fall to 8-month low in March; exports rise to 3-month high
Biodiesel imported into the US fell in March for the first time in four months while biodiesel exported from the US reached a three-month high.
Import demand from...
05.03.2024
BFT, soybean oil weekly average prices tumble
For the week to Friday, prices were broadly lower compared with the prior week’s average. Packer bleachable fancy tallow was down by 2.2% from the prior week’s average on...
05.03.2024
US animal protein prices remain under pressure; soymeal rises
US animal protein prices were mixed in the week to Friday May 3 but showed no large movements, with multiple market participants traveling for the Petfood Forum in Kansas...