Bearish Palm Oil Data Triggers Selling in Vegetable Oils
World vegetable oil prices were mixed on Monday as bearish fundamental data pressured palm oil futures while buying across the soybean complex supported soybean oil prices. Crude oil trading was volatile during the U.S. session, but values have risen steadily from the low set Friday afternoon. With the Malaysian Palm Oil Board ( MPOB) report out of the way, soybean oil traders will look forward to the monthly World Agricultural Supply and Demand Estimates (WASDE) report from the United States Department of Agriculture (USDA), scheduled for release at 11 a.m. (CDT) on Wednesday. While traders will react to any changes in USDA’s soybean oil balance sheets, its prediction of U.S. soybean production could drive soybean oil futures higher or lower in the short term.
Nearby soybean oil futures were…
11.13.2024
Neste, Air Canada sign SAF agreement for Vancouver
Finnish transport fuel producer Neste and Air Canada have signed an agreement for the delivery of approximately 20 million gallons of sustainable aviation fuel (SAF) for use by the...
11.13.2024
CWG prices up slightly; DCO movements mixed
The US animal fats and oils markets remained mostly stable to slightly higher on Wednesday November 13, with a modest increase in trading, though many participants continued to exercise...
11.13.2024
2024/25 grain consuming animal unit headcounts increase by 0.39%
Meat and bonemeal, porcine and ruminant, Missouri River were lower on Wednesday November 13. Market sources told Fastmarkets that there are varied poultry and layer feed demand levels, with...