Vegetable Oil Prices Mixed; Supply Worries Boost Palm Oil Futures

Vegetable Oil Prices Mixed; Supply Worries Boost Palm Oil Futures

Vegetable Oil Prices Mixed; Supply Worries Boost Palm Oil Futures

On Monday, global vegetable oil prices were mixed. Palm oil prices climbed more than one percent due to ongoing supply worries, while soybean oil pared early gains to end modestly lower on profit taking and liquidation following the release of monthly supply and demand data. Nearby soybean oil futures (September contract -43 basis points per pound) and benchmark futures (December contract -34 basis points per pound) both fell less than one percent. Losses were slightly smaller for contracts along the forward end of the curve (May 2022 contract -26 basis points per pound).

Soybean oil futures initially advanced alongside strength in the soy complex that was driven by increased soybean export demand from China as well as supportive weather forecasts. Most of the Midwest growing region is expected to be hot and dry this week, which could cause further crop stress.

August is one of…

Membership is required to view the rest of this post.
Click here to learn more and sign up for a free 7-day trial!

Blog

03.28.2024

LCFS credit volumes, average prices move higher

LCFS credit volumes, average prices move higher

**Please note – There will be no Biomass Based Diesel bulletin on March 29, 2024, in observance of Good Friday.**

**Bob Lane was out of the office today.**


California low carbon...

03.28.2024

Diverging FOB and delivered markets to close out March

Diverging FOB and delivered markets to close out March

Please note – The Jacobsen will not publish an Animal Fats bulletin on Friday, March 29th in observance of the Good Friday holiday.

Trading was quiet ahead of...

03.28.2024

March monthly averages mixed for animal proteins

March monthly averages mixed for animal proteins

** Please note: The Jacobsen will not publish a bulletin on Friday, April 29 in observance of Good Friday. **

Light trade was reported for the end of...

Latest Tweets