Political Tension Trigger Selling in Vegetable Oils
Vegetable oil prices were mixed on Wednesday as an overnight increase in political tension between the United States and Chinese governments triggered selling across the soybean complex. The selling erased overnight gains as soybean oil futures dropped 2 3/4 percent following the news that the United States government ordered the immediate closure of a Chinese embassy in Houston. Continuing concerns about palm oil output continued to support palm oil prices, despite an overnight decline in crude oil prices following bearish inventory data. Crude oil prices rallied during U.S. trading hours to settle above $42 per barrel for the first time since the coronavirus pandemic drove prices lower.
Soybean oil futures settled about 1/2 percent lower (September contract -14 basis points), but the September contract held above the…
01.22.2025
Be8, Cemvita to study glycerin-to-SAF feasibility in Brazil
Brazilian biofuels producer Be8 and US-based biotech company Cemvita signed a memorandum of understanding to study the technical and economic feasibility of converting glycerin into sustainable aviation fuel (SAF),...
01.22.2025
CWG prices jump 17% from prior week on strong renewable demand
The choice white grease (CWG) market continued to trade higher on Wednesday January 22 with deals done as high as 42 cents per lb FOB Missouri River, but the...
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US weekly wheat, soybean export inspections decline; corn up 7%
Export inspections of US grains showed a decline for soybean and wheat, while corn increased in the week to January 16, according to data from the USDA released on...