Montana Renewables Returns to Full Operations
In August of 2023, Montana Renewables (MRL) reported a leak in the steam recovery system on their renewable hydrogen plant. The plant was able to continue operations with a...
Soybean Oil Rallies Sharply Despite Plunge in Energy Markets
Vegetable oil prices were mixed following the long holiday weekend, with soybean oil futures rising sharply while palm oil prices were mixed. Fund oil/meal spreading and gains in soybean futures drove the strength in soybean oil, while expectations the Malaysian Palm Oil Board (MPOB) will report palm oil inventories rose in March weighed on palm oil prices. Weakness in crude oil during the overnight session also contributed to the decline in palm oil futures, but as the drop in energy prices accelerated during U.S. trading hours, it had no impact on the rally in the soybean oil market.
The moves drove the spread between the May soybean oil and palm oil contracts back above nine cents, while the July spread rose back above 12 cents. Despite the increases, lower highs than Thursday suggest the spreads may continue to…
Market Ends Dull Week with Flurry of Lower Trades
*Please Note - Ryan Standard was out of the office today. He will return on Monday, December 4, 2023. In his absence, please contact Amanda Luhavalja at [email protected].*