Gains in Soybean Futures Support Nearby Soybean Oil Prices
Vegetable oil prices were generally mixed on Friday as a breakout above the recent trading range in vegetable oil futures on the Dalian exchange sparked hope for short-term demand and triggered bull spreading in both palm oil and soybean oil markets. A sharp rally in wheat futures also drove buying across agricultural commodity markets, lending support for soybean oil prices. Energy futures were modestly lower on profit-taking after Thursday’s sharp rally. The move pushed the spread between soybean oil and heating oil (HOBO) modestly higher, but it remains in the relatively narrow range around $1.45 per gallon it has been trading in for the last two weeks.
03.03.2025
EASA releases EU SAF mandate penalty reference prices
The EU Aviation Safety Agency (EASA) released its report on 2024 aviation fuel prices on February 25, and this will be used to assess penalties for non-compliance with ReFuelEU...
03.03.2025
Gulf UCO, tallow prices edge lower; Chicago lard posts modest gains
Activity in the US animal fats and oils markets picked up late in the day on Monday March 3, with the US Gulf region reporting the bulk of trades.
03.03.2025
Trade quiet in animal protein market ahead of tariff implementation on Canada and Mexico
Trading was quiet in the animal protein market on Monday March 3 with many market participants taking a wait-and-see approach to US tariffs that are set to go into...