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…
02.21.2025
US animal fats and oils markets finish week strong; broader uncertainty persists
The US animal fats and oils markets ended Friday February 21 on a relatively quiet note, though broader market developments throughout the week have added ongoing uncertainty to the...
02.21.2025
Sausage casings bulletin, February 21, 2025
Runner market commentary
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02.21.2025
US weekly net soybean meal exports, sales retreat again
In the week to February 13, US net soybean meal and soybean cake sales and exports continued to decline but were above most analysts' estimates, data released by the...