Supply Concerns Drive Vegetable Oil Prices Higher

Supply Concerns Drive Vegetable Oil Prices Higher

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…

Membership is required to view the rest of this post.
Click here to learn more and sign up for a free 7-day trial!

Blog

03.28.2024

LCFS credit volumes, average prices move higher

LCFS credit volumes, average prices move higher

**Please note – There will be no Biomass Based Diesel bulletin on March 29, 2024, in observance of Good Friday.**

**Bob Lane was out of the office today.**


California low carbon...

03.28.2024

Diverging FOB and delivered markets to close out March

Diverging FOB and delivered markets to close out March

Please note – The Jacobsen will not publish an Animal Fats bulletin on Friday, March 29th in observance of the Good Friday holiday.

Trading was quiet ahead of...

03.28.2024

March monthly averages mixed for animal proteins

March monthly averages mixed for animal proteins

** Please note: The Jacobsen will not publish a bulletin on Friday, April 29 in observance of Good Friday. **

Light trade was reported for the end of...

Latest Tweets