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…
05.06.2024
Strong biodiesel production seen weighing on crude glycerin prices
The whispers of declining biodiesel production are meeting with resistance. Some observers have been sounding the alarm regarding declining production for over a year now, but if true, biodiesel...
05.06.2024
Average weekly hog slaughter to decrease into mid-June: Fastmarkets’ research team
Distillers’ corn oil (DCO) prices fell to 42-43.5 cents per lb delivered US Gulf on Monday May 6 for May-June shipments. There was additional trading reported on the same...
05.06.2024
Year-to-date commercial cattle production falls 2.30% y-o-y
US animal proteins prices were steady on Monday May 6. Limited trade was reported, with several market participants only testing prices, Fastmarkets heard.
US hog slaughter
Fastmarkets research...