World Vegetable Oil Prices Drop Despite Gains in Crude
Soybean oil prices fell sharply during U.S. trading on profit-taking across the soybean complex. However, as soybean futures rallied back to post gains at the close, soybean oil futures trimmed the decline. Still, liquidation of long oil share positions, despite a four-percent rally in West Texas Intermediate (WTI) futures, left soybean oil futures lower for the day. Overnight weakness in world vegetable oil futures weighed on palm oil prices, which also settled lower on Tuesday.
The narrowing of the spread between soybean oil and heating oil futures (HOBO), which fell from $1.68 per gallon on Thursday to $1.53 on Tuesday, should support soybean oil prices. However, given…
12.20.2024
45z guidance fails to appear; government scrambles to pass spending bill
The US government spending bill failed twice in as many days. If a deal is not reached by midnight on Friday December 20, some federal services will...
12.20.2024
US animal fats and oils end week softer across the board ahead of holiday slowdown
Prices for US animal fats and oils ended the week on a lower note on Friday December 20, with most markets trending downward ahead of the upcoming holiday week,...
12.20.2024
December cattle on feed down on month, year
Most US animal protein prices were rangebound for the week, though in wider ranges due to the impending Christmas and New Year's holiday closures.
The only significant price...