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….
01.13.2025
Glycerin prices unchanged; buyers, sellers cautious about market trend
80% crude glycerin prices are being quoted in the $0.17-0.20 per pound range this week. Kosher crude glycerin prices were holding near $0.25 per pound, while refined glycerin...
01.13.2025
Animal fats and oils market quiet following 45Z news; cattle slaughter projected to decline in coming weeks
The US animal fats and oils markets began the week on a quieter note on Monday January 13, as
01.13.2025
Weekly hog slaughter forecast at 2.57 million into February
US animal protein prices were steady day on day on Monday January 13.
Chicago Board of Trade (CBOT) March soybean meal moved higher for Monday on a round...