Cash indications for vegetable oils closed the week with a whimper. Traders attributed the quiet market tone to soft margins, as well as next week’s annual American Fats and Oils Association Conference in Nashville. Pressure should continue in the near term due to lackluster interior demand for soybean oil and other edible oils.
Soybean oil and palm oil futures advanced again on Friday on fresh buying. Energy and other commodities markets were broadly higher early in the day due to heightened geopolitical concerns. The soybean futures complex initially rebounded on Thursday after the USDA’s WASDE report showed larger-than-expected cuts to soybean stocks as well as lower-than-projected crop yields.
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09.13.2024
Haffner Energy to spin off SAF division as independent company
French-based technology company Haffner Energy will spin off its sustainable aviation fuel (SAF) division into an independent entity called SAF Zero, the company announced on Friday September 13.
09.13.2024
Animal fats and oils markets end week stable to lower as SBO, HO continues decline
Prices for used cooking oil (UCO) were slightly lower on Friday September 13, as the heating oil (HO) and soybean oil (SBO) markets continued to slump, closing out the...
09.13.2024
Lackluster trade volume keeps most animal proteins flat
A quiet tone was noted by most market sources in the US animal proteins market for the week to Friday September 13. The only price adjustments were on bloodmeal,...