Bullish Export Data Lifts Soybean Oil Futures
World vegetable oil prices rallied on Thursday as buyers returned to the palm oil market despite weakness in crude oil and Chinese vegetable oil markets overnight. The strength in palm oil and bullish weekly export sales data triggered fund spreading in soybean oil, which helped drive prices higher. Crude oil prices traded in a $1 per barrel range but ended the U.S. agricultural session about 3/4 percent lower.
Soybean oil futures gained about 1/2 percent (September contract +16 basis points per pound) but settled about one percent below the high of the day. The high occurred just after the U.S. opening as data indicating the first U.S. exports to China drove prices higher after someone either established or added a substantial number of contracts to a…
12.27.2024
US RD, SAF supplies remain strong despite declining import volumes
US supplies of sustainable aviation fuel (SAF) fell sharply in November but reached the highest November volume on record, according to data released on Thursday December 26 by the...
12.27.2024
Animal fats and oils end week steady amid holiday-limited trades
The US animal fats and oils markets held steady on Friday December 27, with limited trades persisting due to the holiday season.
Weekly averages were unchanged from the prior week...
12.27.2024
Relative prices of US meat and bonemeal rise amid depressed soybean meal market: 2024 recap
US animal protein prices were steady to lower on Friday December 27. Some participants reported distressed loads in the market late in the afternoon of Thursday December 26 and...