Bullish WASDE Drives Soy Complex Prices Higher
Bullish data from the United States Department of Agriculture (USDA) released on Friday, drove soybean oil prices higher. Palm oil prices only moved modestly as traders in Malaysia waited for the results of the USDA report before committing to new long positions. Crude oil prices were modestly higher on Friday but were sharply lower for the second consecutive week.
USDA published its monthly World Agricultural Supply and Demand Estimates (WASDE) and Crop Production reports, which triggered buying across the soybean complex. USDA’s changes to its U.S. soybean oil balance sheets were generally bullish, but rising soybean futures triggered the liquidation of long oil share positions, which limited gains. Still, with the Malaysian Palm Oil Board (MPOB)…
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...