Sell-Off Continues in Vegetable Oil Markets
Vegetable oil prices continued to move lower on Tuesday as profit-taking in palm oil pressured prices overnight. During U.S. trading hours, the overnight weakness combined with selling across the soybean complex to weigh on soybean oil. However, a rally during the last 2 1/2 hours of trading, which was driven by fund spreading, limited the decline in soybean oil prices. Weakness in crude oil prices also contributed to the negative tone in world vegetable oil markets.
Soybean oil prices fell about 3/4 percent (September contract -18 basis points per pound). Despite the decline, futures settled more than one percent above the lows set shortly after the U.S. open. Buying at the 20-day moving average limited the decline and triggered the rally, which left the benchmark contract just above the psychologically important 29.5-cent…
01.29.2025
DCO prices strengthen as output, ethanol production decline on week
Prices for US animal fats and oils held steady to higher on Wednesday January 29, with much of the day's trade concentrated in the distiller’s corn oil (DCO) markets.
01.29.2025
Automotive leather sector wary of potential US tariffs on Chinese goods
For most US hide sellers, the market remained quiet on Wednesday January 29, as Chinese tanners were away for their Lunar New Year holiday. But some activity persisted, particularly...
01.28.2025
US animal fats and oils Gulf markets show continued price strength amid tight conditions
The US animal fats and oils markets were stable to higher on Tuesday January 28, supported by ongoing discussions of strong demand.
The Gulf Coast region has experienced...