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…
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...