SBO Futures Move Off Early Losses, Palm Oil Prices Drop

SBO Futures Move Off Early Losses, Palm Oil Prices Drop

Palm oil and soybean oil futures extended lower on Tuesday, weighed down by early losses in crude oil prices and improved crop conditions in the U.S. Midwest growing region after recent rainfall. Funds initially continued to liquidate long positions, as worries that early summer heat-stress to U.S. soybean crops would impact yields dissipated.

Still, soybean oil markets ended off the day’s lows thanks to a rebound in crude oil prices and late day bargain buying by funds. September delivery soybean oil futures settled at 63.98 cents per pound, down just 10 basis points per pound, while the October contract closed at 61.26 cents per pound, declining seven basis points per pound.

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05.16.2024

Animal fat prices steady on limited volume traded

Animal fat prices steady on limited volume traded

Fastmarkets price assessment for edible tallow, fob Chicago was $52.00 cents per lb on 14 railcars, steady from $52.00 cent per lb on Wednesday May 15.

On Thursday,...

05.16.2024

Grain consuming animal units forecast lower for 2023/24, 2024/’25

Grain consuming animal units forecast lower for 2023/24, 2024/’25

Animal protein prices were steady on Thursday May 16.

Market sources reported an uptick in interest, but the upcoming Memorial Day holiday, lower prices for distiller dried grains...

05.16.2024

International animal fats and oils, May 16 2024

International animal fats and oils, May 16 2024

Market sources also reported that UCO traded at €1,065 per tonne on a DDP France basis, while deals for imported UCO were heard at $975 per tonne CIF Rotterdam,...

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