Mississippi Valley cottonseed oil (PBSY) cash prices moved higher, bumping up two cents per pound from last week to 72 cents per pound. Spot cottonseed oil values were up, in tandem with two days of gains in soybean oil futures. Futures advanced again on Tuesday amid U.S. Midwest crop weather concerns, expectations for stronger palm oil exports, and gains in rival vegetable oils.
Soybean oil prices were also supported after the U.S. National Oilseed Processors Association (NOPA), which represents about 95 percent of the country’s soybean processors, said soybean oil stocks came in below market expectations at a 10-month low of 1.52 billion pounds in July. NOPA also showed that soybean crush volumes came in above market expectations at 173.3 million bushels, which was also a record high for July.
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12.08.2023
SAF Output Surges, Robust Policies Still Needed to Drive Growth: IATA
**Bob Lane was out of the office today and will return on Monday, December 18, 2023. In his absence, please contact Amanda Luhavalja at [email protected] **
12.08.2023
Fat Market Slides on Heavy Nearby Supply, Cuts in Feed Demand
There was a lot of activity today to close out the week, mostly at lower prices. Negative pressure had been building through the week on heavy nearby supply, and...
12.08.2023
MBM Prices Continue to Fall on Reduced Export Demand
Considerable pressure on meat and bonemeal remained for this week, with ruminant and porcine markets FOB Mo. River weekly averages dropping 9.0 percent and 7.0 percent, respectively. Excess offerings...