Vegetable Oil Rally Sets Fresh Life-of-Contract Highs
Weather concerns continued to drive buying across the oilseed complex on Thursday. The rally left the benchmark contracts for palm oil and soybean oil at fresh life-of-contract highs. The benchmark soybean oil contract has rallied 20 percent since testing the 50-day moving average on April 12. The benchmark palm oil contract has jumped more than 16 percent after trading below its 50-day moving average on the same day. In addition to the concerns about early-season planting conditions in the Corn Belt, bullish World vegetable oil fundamentals and rising cash prices have also contributed to the buying.
The United States Department of Agriculture (USDA) released its weekly Export Sales report for the week ending April 15 on Thursday. USDA reported soybean oil sales totaled 5,700 tonnes, up from last week’s net…
12.20.2024
45z guidance fails to appear; government scrambles to pass spending bill
The US government spending bill failed twice in as many days. If a deal is not reached by midnight on Friday December 20, some federal services will...
12.20.2024
US animal fats and oils end week softer across the board ahead of holiday slowdown
Prices for US animal fats and oils ended the week on a lower note on Friday December 20, with most markets trending downward ahead of the upcoming holiday week,...
12.20.2024
December cattle on feed down on month, year
Most US animal protein prices were rangebound for the week, though in wider ranges due to the impending Christmas and New Year's holiday closures.
The only significant price...