The yellow grease, choice white grease and poultry fat markets traded at higher prices today. Soybean oil and higher prices on tallow have contributed to the upswing in the grease and poultry fat markets. The overall tone of the market was relatively quiet. The May soybean oil contract settled at 57.02 cents per pound today, up 0.65 cents from yesterday. Intraday trading was as high as 58 cents per pound, which pushed a number of sellers to the sidelines. Buyers were having a hard time drawing out offerings, but the sinking heating oil market did little to entice biofuel producers to pay higher prices. The heating oil – bean oil (HOBO) spread widened again today, but RIN values failed to increase enough to offset the change. Soybean oil has led the charge higher, but a weaker heating oil market and flat RIN prices may pose a risk to the longevity of the price rally and may start to…
05.03.2024
Biodiesel imports fall to 8-month low in March; exports rise to 3-month high
Biodiesel imported into the US fell in March for the first time in four months while biodiesel exported from the US reached a three-month high.
Import demand from...
05.03.2024
BFT, soybean oil weekly average prices tumble
For the week to Friday, prices were broadly lower compared with the prior week’s average. Packer bleachable fancy tallow was down by 2.2% from the prior week’s average on...
05.03.2024
US animal protein prices remain under pressure; soymeal rises
US animal protein prices were mixed in the week to Friday May 3 but showed no large movements, with multiple market participants traveling for the Petfood Forum in Kansas...