Edible oil futures prices were lower on Thursday, as a weaker U.S. dollar, rapid planting progress in the U.S. Midwest, and worries about the economy and regional banking crisis weighed on commodity markets as a whole. Funds also booked profits and liquidated long positions ahead of the release of the USDA’s latest monthly World Agricultural Supply and Demand Estimates (WASDE) on Friday. In the May report, the agency will provide the first look at its projections for the 2023/24 marketing year and an update for the current season. The agency is expected to show U.S. soybean oil ending stocks of 299 million pounds for the current marketing year.
In Chicago, the most actively traded soybean oil futures contract (for July delivery) ended 90 basis points per pound, or 1.7 percent, lower at 51.15 cents per pound.
In Malaysia, benchmark July palm oil futures settled down 106 ringgits per tonne, or 2.9 percent, at 3,603 ringgits per tonne. Millers’ data suggested…
01.09.2025
Additional 45z guidance expected on January 10
Information addressing the Bipartisan Infrastructure Law (BIL) and the Inflation Reduction Act (IRA) is expected to be released on Friday January 10, according to several sources speaking with...
01.09.2025
Prices for US animal fats and oils unchanged; market tightness persists
The US animal fats and oils markets were unchanged on Thursday January 9, as trade slowed following an active start to the week.
Participants continued to report stable pricing in...
01.09.2025
Averted ILA port strike eases animal protein market tension; November dog, cat food exports rise
US animal protein prices were steady on Thursday January 9. With the International Longshoremen’s Association (ILA) port strike avoided, sources expect unease to diminish to a degree. However, trade...