Bearish MPOB Data Triggers Liquidation in World Veg Oils
Vegetable oil futures were sharply lower on Monday as bearish data from the Malaysian Palm Oil Board (MPOB) set the tone for the day. Weakness in soybean futures and the liquidation of long oil share positions and bull spreads in the soybean oil curve also contributed to weakness during U.S. trading hours. The declines left the nearby soybean oil contract at its lowest level since March 30 and the benchmark palm oil contract at its lowest price since March 31.
The declines continued to narrow the spread between soybean oil and palm oil futures. The May spread dropped below eight cents for the first time since February 25. However, deferred spreads remain near the upper end of the recent trading range, with the July spread just below 11.85 cents and the September spread just under 11.25 cents. The divergence in the…
02.05.2025
Fats exports rise in 2024; DCO, ethanol production reach 2-month high
The US animal fats and oils markets were stable to higher on Wednesday February 5 as ongoing strength in the Chicago markets continued to ripple into nearby regions, lifting...
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Mixed inventory levels, overall unease impact meat and bonemeal trade
Unease and mixed tones were reported from market sources on Wednesday February 5 for US animal proteins, specifically meat and bonemeal (MBM).
A variety of factors — lessened...
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US weekly ethanol production hits 2-month high; stocks rebound
US weekly average ethanol production rose to a two-month high of 1.112 million barrels per day in the week to January 31, according to the US Energy Information Administration...