Fund Spreading and Export Concerns Weigh on Nearby Futures
Vegetable oil futures were mixed on Monday as concerns about rising output in Malaysia and surging coronavirus cases in India pressured nearby contracts. At the same time, liquidation of bull spreads supported deferred contracts. Technically driven selling in the benchmark soybean oil contract above the life-of-contract high also weighed on nearby futures. Despite the weakness in the nearby palm and soybean oil markets, Chinese vegetable oil markets posted gains of more than 3/4 percent.
The decline in the nearby soybean oil contract was slightly smaller than in palm oil, driving the spread between May contracts marginally higher to 10.29 cents per pound. However, the declines in deferred soybean oil contracts narrowed the spreads, with the July spread dropping to 13.17 cents and the September spread falling to 11.53…
01.30.2025
Diamond Green Diesel will look to Europe for RD, SAF: Valero
The most attractive markets for renewable diesel (RD) and sustainable aviation fuel (SAF) are Europe and the UK, Eric Fisher, senior vice president of US-based fuels producer Valero, said...
01.30.2025
DCO holds firm while animal fats sentiment softens amid market uncertainty
Activity in the US animal fats and oils markets eased on Thursday January 30 as the month neared its end on a more cautious note amid ongoing uncertainty.
01.30.2025
Limited hide bidding interest; some Chinese tanners engage for discounts
Several hide sellers noted limited bidding interest on Thursday January 30, except for one packer who received strong volume bids from Chinese upholstery and shoe tanners despite the ongoing...