Spreading Continues to Weigh on Soybean Oil Prices
World vegetable oil markets were mixed again on Thursday as continued concerns about supply shortfalls supported palm oil prices while spreading and pre-report positioning left soybean oil futures mixed. Overnight strength in crude oil also contributed to palm oil’s strength but could not drive substantial buying in the soybean oil market. West Texas Intermediate (WTI) futures settled about 3 1/2 percent higher (November contract +$1.35 per barrel), which left the benchmark contract back above the psychologically critical $40 per barrel level after setting just below that level on Wednesday.
Soybean oil futures were mixed, with nearby contracts marginally higher or lower (December contract -3 basis points per pound) and deferred prices rising by as much as 1/4 percent (October 2021 contract +10 basis points). Despite…
01.07.2025
Biodiesel imports climb 10% from 2-year low; exports fall to lowest level since January 2024
US Census Bureau data released on Tuesday January 7 showed a monthly divergence in biodiesel imports and exports. Biodiesel import volume rose from a two-year low last month, climbing...
01.07.2025
Packer BFT trades higher; rising HO/SBO prices lift UCO sentiment
Three railcars of packer-grade bleachable fancy tallow (BFT) traded higher at 45 cents per lb, Chicago basis on Tuesday January 7.
Apart from this trade and continued activity in choice...
01.07.2025
Poultry by-product pet grade lower on export unease, possible winter weather in Mid-South, Southeast
US animal proteins had limited price changes indicated on Tuesday January 7 due to a quiet tone reported by multiple market sources.
Price pressure was reported on poultry-related...