Soybean Oil/Palm Oil Spread Rises to Life-of-Contract Highs
Vegetable oil prices were mixed, sending the spread between nearby soybean oil and palm oil contracts to new life-of-contract highs. The rally in the spread was primarily due to a sharp decline in the palm oil market, where nearby contracts dropped nearly five percent (May contract -146 ringgit per tonne). Slight gains in nearby soybean oil contracts (March contract +16 basis points per pound) also contributed to the jump in spreads. The move left the spread between May contracts at 8.8 cents and the March contract just above six cents. The spread between May contracts jumped by almost seven cents per pound in the past month, after trading at a life of contract low of 1 3/4 cents on January 7.
Weakness in world vegetable oil markets, including two-percent declines in soybean oil and palm oil futures on the…
01.03.2025
Imports of biodiesel, renewable diesel continued to slow during October
US Energy Information Administration (EIA) data released on Tuesday December 31 showed biodiesel and renewable diesel (RD) import volumes declined during October 2024. Biodiesel imports had fallen during five...
01.03.2025
Renderer BFT prices climb; CWG closes week lower
The US animal fats and oils markets closed the week largely stable on Friday January 3, with the exception of the choice white grease (CWG) and tallow markets.
01.03.2025
US meat meal production in November down year on year: USDA
US animal proteins prices on Friday January 3 were steady day on day.
November animal by-product production, stocks
In November, US production of feathermeal (FM) increased month on...