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Veg Oil Markets
by Tore Alden
World vegetable oil moved lower on Friday as falling cash prices outweighed gains on the Dalian exchange. Weakness in crude oil prices during the overnight session and again during U.S. trading hours also contributed to the bearish tone.
Soybean oil futures fell by 1/2 percent or less (December contract -11 basis points per pound). Weakness in the soybean complex and light fund spreading also weighed on prices. However, buying below the five-day exponential and 10-day moving averages limited the decline. Traders will look forward to the monthly supply and demand data…
11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
11.22.2024
Gulf prices average higher despite weeklong declines in SBO
For the week ended Friday November 22, packer bleachable fancy tallow (BFT) remained unchanged from the previous week’s average, while Gulf Coast-delivered tallow rose 2.7%, primarily...
11.22.2024
Bloodmeal largest price mover week on week; November cattle on feed higher
US animal protein prices were mixed to mostly higher for the week to Friday November 22, with only meat and bonemeal showing a slight price reduction due to tighter...