Bullish News Drives Palm Oil Prices Higher
Vegetable oil prices were mixed on Monday as palm oil continued to move higher on bullish fundamentals, while hedging and late-session fund spreading drove soybean oil futures lower. Cargo surveyor data and a report suggesting there was a labor shortage in the palm plantations contributed to the gains in palm oil despite lower overnight crude oil prices. Soybean oil traded higher with palm oil in the overnight session. However, futures opened the U.S. session well below the close of the overnight session and traded steadily lower throughout the day. Most contracts settled near the low of the day despite a rally that lifted crude oil prices to gains during U.S. trading hours.
Soybean oil prices were mostly narrowly mixed, but contracts with deliveries in the second quarter of 2021 or later rose about 1/4 percent. Despite the…
11.13.2024
Neste, Air Canada sign SAF agreement for Vancouver
Finnish transport fuel producer Neste and Air Canada have signed an agreement for the delivery of approximately 20 million gallons of sustainable aviation fuel (SAF) for use by the...
11.13.2024
CWG prices up slightly; DCO movements mixed
The US animal fats and oils markets remained mostly stable to slightly higher on Wednesday November 13, with a modest increase in trading, though many participants continued to exercise...
11.13.2024
2024/25 grain consuming animal unit headcounts increase by 0.39%
Meat and bonemeal, porcine and ruminant, Missouri River were lower on Wednesday November 13. Market sources told Fastmarkets that there are varied poultry and layer feed demand levels, with...