Selling, Profit-Taking Weigh on Edible Oils ahead of Weekend
World vegetable oil prices were lower on Friday, with palm oil futures tracking extended losses in competing edible oils markets. Soybean oil futures were down alongside a retreat in crude oil. The U.S. soybean complex also retreated as a whole due to lingering post-hurricane loading and shipping delays from Gulf terminals and generally favorable weather outlooks for Midwest crops that should aid maturation and the harvest.
Nearby delivery soy oil futures closed the session almost one percent lower (October contract -54 basis points per pound) on pre-weekend profit-taking and selling. Benchmark soybean oil ended one percent down (December contract -58 basis points per pound). Since September 10, the October and December soybean oil contracts were up about one percent and 1/2 percent, respectively. Soybean oil contracts at the back end of the curve saw slightly smaller…
04.19.2024
Reduced March RIN production not leading to higher RIN Prices
Total March biofuel RIN production was 1.9 billion RINs, which was 6% below February and 15% below December’s RIN output of 2.25 billion. December had the largest monthly production...
04.19.2024
CWG, YG higher on week, UCO, DCO down again
The market was quiet heading into the weekend. Used cooking oil (UCO) traded in large volume into the Gulf at 40 cents per lb delivered in the truck market.
04.19.2024
Price pressure on ruminant and porcine items for the week
Sloppy markets were reported for porcine and ruminant items at the close of week ending Friday April 19.
Wide ranges were witnessed on porcine bloodmeal (BM), with a...