Rising Energy and Soybean Futures Push Soy Oil Prices Higher
Vegetable oil prices rallied on Wednesday as continued strength in the energy market and a sharp rally in soybean futures supported prices. Crude oil futures gained about four percent (December contract +$1.49 per barrel) following inventory data showing a decline in stocks and increasing momentum for a delay in output from the Organization of Petroleum Exporting Countries (OPEC+) and other affiliated countries. Selling at the 20-day moving average limited the gains. Still, the benchmark contract settled above the $39 per barrel level and narrowed the spread between soybean oil prices and heating oil prices, suggesting improving biodiesel producers’ profitability.
Soybean oil prices gained about two percent (December contract +61 basis points) despite light meal/oil spreading by funds. The rally left the…
02.21.2025
US animal fats and oils markets finish week strong; broader uncertainty persists
The US animal fats and oils markets ended Friday February 21 on a relatively quiet note, though broader market developments throughout the week have added ongoing uncertainty to the...
02.21.2025
Sausage casings bulletin, February 21, 2025
Runner market commentary
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02.21.2025
US weekly net soybean meal exports, sales retreat again
In the week to February 13, US net soybean meal and soybean cake sales and exports continued to decline but were above most analysts' estimates, data released by the...