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…
01.30.2025
Diamond Green Diesel will look to Europe for RD, SAF: Valero
The most attractive markets for renewable diesel (RD) and sustainable aviation fuel (SAF) are Europe and the UK, Eric Fisher, senior vice president of US-based fuels producer Valero, said...
01.30.2025
DCO holds firm while animal fats sentiment softens amid market uncertainty
Activity in the US animal fats and oils markets eased on Thursday January 30 as the month neared its end on a more cautious note amid ongoing uncertainty.
01.30.2025
Limited hide bidding interest; some Chinese tanners engage for discounts
Several hide sellers noted limited bidding interest on Thursday January 30, except for one packer who received strong volume bids from Chinese upholstery and shoe tanners despite the ongoing...