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…
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...