Soybean Oil Prices Rally One Percent in Last 20 Minutes
World vegetable oil prices were mixed on Friday as palm oil prices moved lower and soybean oil prices rallied. Palm oil futures “caught down” to soybean oil after the resumption of trading following a national holiday on Thursday and a late-session rally let soybean oil futures to settle just below the high of the day. The moves drove the spread between the January soybean oil and palm oil contracts up to 3/4 cent after it tested parity earlier in the week.
Crude oil prices continued to move lower, with the benchmark West Texas Intermediate (WTI) contract falling more than 1 1/2 percent (December contract -$0.57 per barrel). The decline left the contract below the $36-per-barrel level for the first time since the end of May. Prices remained below the lower Bollinger band, and volume declined substantially from a peak on Thursday, suggesting the decline may pause or slow…
11.21.2024
Domestic US biodiesel blending helps lift October RFS RIN production
US domestic biodiesel blending of 147.5 million gallons in October produced a monthly high of 221.2 million renewable identification number (RIN) credits for January-October. This was 11.5% above September...
11.21.2024
CWG trades lower as broader animal fats markets hold steady
The US animal fats and oils markets held steady on Thursday November 21, with limited trading as attention shifted toward broader macroeconomic factors and...
11.21.2024
October commercial cattle, hog production above 2023
US animal protein prices were steady on Thursday November 21. Limited trade was reported from market sources due to the proximity of the extended Thanksgiving holiday weekend in the...