Potential Strike in Argentina Roils Soybean Oil Market
World vegetable oil prices were mixed on Tuesday, with nearby soybean oil contracts continuing to rally on concerns about Argentina’s short-term supply disruptions. Palm oil rose on overnight strength in soybean oil futures. However, late-session selling left deferred soybean oil contracts narrowly mixed after trading sharply higher for most of the day. The selling drove the spread between the May soybean oil and palm oil contracts lower, but only marginally, as it still settled above 12 cents, after trading above 13 cents in the overnight session. The July spread also fell to just above 12 cents.
Contributing to the weakness in soybean oil was a collapse in crude oil prices, which left nearby West Texas Intermediate (WTI) contracts down more than five percent. Concerns about a resurgence in coronavirus infections in the…
12.24.2024
Animal fats, oils markets quiet amid Christmas holiday
The US animal fats and oils markets remained steady on Tuesday December 24, amid limited trading due to the Christmas holidays.
Market sources expected activity to remain subdued...
12.24.2024
US November broiler, turkey slaughter down year on year
US animal protein prices were steady on Tuesday December 24, with limited volumes reported to have been traded. With the proximity of the end-of-year holidays, most market participants are...
12.24.2024
US weekly soybean, wheat export inspections rise, corn falls
Weekly export inspections
Export inspections of US grains showed a decline for corn but an increase for soybean and wheat in the week to December 19, according to data...