** Please note, The Jacobsen will not publish a Vegetable Oils bulletin on Monday, June 19th**
Global vegetable oil futures surged on Friday, with short covering and fresh buying boosting palm oil and soybean oil markets sharply higher. Robust energy prices, as well as short- and long-term forecasts for dry and hot weather for major growing areas of the U.S Midwest and Southeast Asia underpinned the advance. The U.S. markets will be closed on June 19.
On the CME, benchmark July soybean oil futures settled at 59.69 cents per pound, up 126 basis points per pound, or 2.2 percent, on the day and 9.3 percent on the week. The August contract finished at 58.76 cents per pound, up 131 basis points per pound, or 2.3 percent, for the session and 9.8 percent for the week.
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09.17.2024
US glycerin prices rangebound amid market uncertainty
The US glycerin market remained rangebound in the week to Tuesday September 17, with prices for 80% crude and kosher crude glycerin steady to slightly higher. Biodiesel producers are...
09.17.2024
US animal fats and oils mostly stable; CWG edges higher on strong demand
The US animal fats and oils markets were stable to slightly higher on Tuesday September 17, with minimal trading as some sources cited “well-covered” positions for the month.
09.17.2024
US porcine, ruminant bloodmeal prices fall; USDA slightly raises forecast for GCAU count in 2024/25 [corrected]
Prices were rangebound for most items on the US animal proteins market on Tuesday September 17. The exceptions were bloodmeal in the Missouri River, Texas Panhandle and Indiana markets,...