Economic Optimism Fades Leaving Vegetable Oils Mixed
Vegetable oil prices were mixed again on Monday as palm oil futures rose despite lower crude oil prices overnight, and substantial weakness across the soybean complex pressured soybean oil prices. Once again, crude oil prices rallied during early U.S. trading. However, the announcement that the California government would reinstitute some of the provisions it implemented this spring to slow the spread of the disease in its state drove crude sharply lower. The September West Texas Intermediate (WTI) futures contract fell back below the psychologically critical $40 per barrel level, and the resulting pessimism could weigh on vegetable oil prices in the short term.
Soybean oil futures declined for the fourth consecutive session with most contracts down about 1/2 percent (September contract -15 basis points per pound)….
11.12.2024
Glycerin prices seen supported by declining biodiesel margins
Glycerin is a co-product of biodiesel production, and its supply is dependent on biodiesel margins. The more profitable the margin environment for biodiesel, the larger the supply of glycerin....
11.12.2024
Animal fats and oils prices stable amid losses in vegoil markets
"I think the big drop in soybean oil had everyone take a pause,” one source said.
December soybean oil futures closed at 46.23 cents per lb on Tuesday, down by...
11.12.2024
Meat and bonemeal, bloodmeal higher on active demand
Prices were highly mixed on Tuesday November 12, with active demand reported by market sources.
Porcine meat and bonemeal prices were steady to higher according to sources...