Concerns About Falling Production Lift Palm Oil Futures
Vegetable oil markets rebounded on Thursday as the selling had become overdone, and rising concerns about flooding and its impact on palm oil production in Indonesia and Malaysia triggered buying. Nearby palm oil futures jumped about two percent (April contract +63 ringgit per tonne), but gains in deferred contracts were smaller. Stabilization in soybean futures also buoyed soybean oil prices, which rose about two percent (March contract +88 basis points).
The second day of substantial gains in soybean oil futures drove the spread between the March soybean oil and palm oil contracts above five cents per pound on Wednesday. However, the Malaysian ringgit’s strength narrowed the spread slightly on Thursday despite similar percentage gains in both markets. On Wednesday, the move drove the spread to its widest in a…
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...