Supply Concerns Drive Vegetable Oil Prices Higher
World vegetable oil prices jumped sharply on Thursday as concerns about a slowdown in soybean oil shipments out of Argentina and higher energy prices contributed to the bullish tone. Vegetable oil traders remain focused on developments at a crushing facility in Argentina, which shut down on Wednesday. If the facility remains closed for an extended period, it could slow shipments from the World’s largest exporting country. However, the shutdown occurred when crushing volumes are near seasonal lows, which should mitigate the impact of a short-term closure. West Texas Intermediate futures bounced off the critical $40 per barrel level to rise by about 1 1/2 percent.
Nearby soybean oil futures gained about 1 1/2 percent (December contract +49 basis points per pound), but deferred contracts rose less (December 2021 contract…
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...