Bargain Buying Lifts World Vegetable Oil Markets
On Monday, technically-driven buying drove vegetable oil prices higher. However, soybean oil and palm oil prices remain well below recent highs following the sharp sell-off at the end of last week. In addition to the technically driven buying, oil/meal spreading also contributed to the gains in the soybean oil market. News that the Russian government would implement taxes on sunflower oil exports starting in September may have also contributed to the bullish tone. Position squaring will likely drive trading on Tuesday as traders look forward to the United States Department of Agriculture’s (USDA’s) reports on Wednesday for the near-term direction of the market.
The spread between the May soybean oil and palm oil contracts continued to narrow, falling below 10 cents for the first time since March 17. The July spread widened to…
01.08.2025
Tallow trades persist amid tight markets; DCO, ethanol production down slightly
Trade in the US tallow markets continued to gain momentum on Wednesday January 8, following sluggish demand throughout much of December.
Another four railcars of packer-grade bleachable fancy tallow (BFT)...
01.08.2025
US ruminant meat and bonemeal prices fall further in most regions
Meat and bonemeal spot prices in the US dropped further on Wednesday January 8. A sizable number of distressed loads of both porcine and ruminant meat and bonemeal were...
01.08.2025
US weekly ethanol production drops; stocks reach 7-month high
US weekly average ethanol production fell to 1.102 million barrels per day in the week to Friday January 3, according to the US Energy Information Administration (EIA) report released...