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…
04.30.2024
Biofuel feedstock demand rises while capacity declines: EIA
EIA Biofuels Capacity and Feedstock Update
The Energy Information Administration’s (EIA) Monthly Biofuels Capacity and Feedstocks Update, released on Tuesday April 30, showed that operable US biofuel capacity declined...
04.30.2024
Chicago edible tallow trades lower
The edible tallow price fell to 52 cents per lb Chicago basis on the afternoon of Tuesday April 30. Tallow trading was quiet outside of the edible tallow market.
04.30.2024
April animal protein values mixed month on month
US animal proteins prices were mostly steady on Tuesday April 30. Limited trade was again reported, with multiple market participants attending the Petfood Forum in Kansas City, Missouri, held...