Palm Oil Futures Test Critical 3,000-Ringgit Level
Vegetable oil prices were mixed on Thursday as palm oil prices rallied on the strength in soybean oil prices on Wednesday, but profit-taking in long oil share positions kept soybean oil futures on both sides of unchanged. Another sharp rally in crude oil prices, which jumped more than two percent, contributed to the gains in palm oil. The rally in West Texas Intermediate (WTI) futures left the benchmark October contract above $41 per barrel. WTI prices have jumped more than 13 1/2 percent since setting a bottom on September 8, while soybean oil futures have gained a little more than 5 1/2 percent, suggesting a substantial improvement in profitability for biodiesel producers.
Soybean oil futures were narrowly mixed, with most contracts gaining or declining by less than 0.1 percent (December contract -5 basis points per…
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...