Cargo Surveyor Data Drives Vegetable Oil Futures Higher
Vegetable oil futures were generally higher on Monday as overnight strength in palm oil prices triggered long oil share spreading by the funds during the U.S. session. However, due to similar moves in the soybean market, the liquidation of bull spreads limited the gains in the front end of the soybean oil curve. Bullish cargo surveyor data for April drove the rally in palm oil prices, lifting the benchmark contract to its largest single-day gain in 11 months. The rally left the benchmark soybean oil contract at a new life-of-contract high, while the benchmark palm oil contract settled just below the high set Wednesday.
Most soybean oil contracts rose more than two percent (December contract +120 basis points per pound) but settled well below overnight highs. Nearby contracts gained more than one percent (July contract…
12.27.2024
US RD, SAF supplies remain strong despite declining import volumes
US supplies of sustainable aviation fuel (SAF) fell sharply in November but reached the highest November volume on record, according to data released on Thursday December 26 by the...
12.27.2024
Animal fats and oils end week steady amid holiday-limited trades
The US animal fats and oils markets held steady on Friday December 27, with limited trades persisting due to the holiday season.
Weekly averages were unchanged from the prior week...
12.27.2024
Relative prices of US meat and bonemeal rise amid depressed soybean meal market: 2024 recap
US animal protein prices were steady to lower on Friday December 27. Some participants reported distressed loads in the market late in the afternoon of Thursday December 26 and...