Selloff in Veg Oil Markets Freezes Fat Trade

Selloff in Veg Oil Markets Freezes Fat Trade

Thunderstorms in parts of the grain belt and a report that the Biden administration may cut the required volume obligations (RVO) under the Renewable Fuel Standard (RFS) sent soybean oil and corn prices tumbling on Friday and the markets have yet to hit a bottom. The move lower in the vegetable oil markets, including palm, have either arrested price movements or sent prices lower in most animal fat and co-products markets this week.

The July soybean oil (SBO) contract is off 23 percent compared to the daily high of one week prior. A forecast for storms across the Great Plains and Midwestern states has contributed to further selling in a market that had run up partially on drought concerns. Corn in particular is entering a critical phase of development and rains will be needed to avoid large yield and/or crop losses. Despite the rain last week much of Iowa, Minnesota and Wisconsin remain in moderate to severe drought. Similar conditions are present in South Dakota and eastern…

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03.27.2024

Illinois Legislation Aims to Create a Clean Transportation Standard

Illinois Legislation Aims to Create a Clean Transportation Standard

Illinois is looking to become the fifth sate to create a clean fuel transportation standard. The Illinois version, if passed, may not be as robust as the ones...

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Sellers see steady to higher prices on interior market trades

Sellers see steady to higher prices on interior market trades

Distiller’s corn oil (DCO) traded higher into the Manly, IA market today, topping out at a high of 47.75 cents lb. Trading into the Gulf and on an FOB...

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Aprill broiler slaughter forecasted below 2023

Aprill broiler slaughter forecasted below 2023

The proximity of the extended Easter holiday weekend kept some participants off the market at mid-week, leaving values generally steady.

Poultry by-product pet grade was reported lower in...

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