Profit-Taking Drives Palm Oil Lower Ahead of Lunar New Year
Vegetable oil markets were lower on Thursday. Palm oil futures caught down to the declines posted on Wednesday in the soybean oil market, while meal/oil spreading by funds weighed on soybean oil prices. Palm oil prices were also pressured by profit-taking ahead of the Lunar New Year holiday. The palm oil market closed after the morning session on Thursday, in observance of the holiday, and will resume trading on Monday.
Nearby soybean oil futures were marginally lower (March contract -6 basis points per pound). However, the declines in the back end of the curve were larger (December contract -29 basis points). Despite the modest decline, the nearby contract range was greater than one cent for the fourth consecutive day. Buying at the 10-day moving average limited the decline while selling above the 46-cent level in…
02.04.2025
Chicago, Gulf animal fats and oils markets strengthen despite ongoing uncertainty
The US animal fats and oils markets were stable to higher on Tuesday February 4, as Chicago market activity saw a notable uptick throughout the day.
Six railcars...
02.04.2025
Light trade volume leaves most US animal protein prices flat
Light trade volume was reported in the US animal proteins markets for Tuesday February 4.
Ruminant meat and bonemeal, Missouri River, was reported as steady from Monday February...
02.04.2025
December US soybean crush, corn consumption up month on month
US soybean crush above monthly, yearly levels
Soybeans crushed for crude oil totaled 218 million bushels in December 2024, up by 7% from November and by 4% from...