Bullish Data Triggers Buying in World Vegetable Oil Markets
World vegetable oil prices were generally higher on Friday as bullish export data and the resumption of trading on the Dalian exchange added to the buying driving by concerns about supply in the palm oil market. The United States Department of Agriculture’s (USDA’s) monthly supply and demand projections were also bullish, driving the liquidation of short oil share positions by funds, driving soybean oil prices sharply higher. Energy prices were the only bearish factor on Friday as prices for West Texas Intermediate (WTI) futures fell by about 1 1/2 percent (November contract -$0.67 per barrel).
Soybean oil futures jumped about three percent (December contract +101 basis points per pound) on the overnight strength in Chinese markets and a substantial reduction in USDA’s 2020/21 U.S. ending stocks projection….
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...
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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...