Corn oil, coconut oil, and cottonseed oil price indications were mostly unchanged to slightly lower, holding within previously set ranges. Crude corn oil prices shot higher in the Midwest the week prior due to increased buying interest. Still, overall demand in the U.S. interior from the renewable sector for edible oils, including soybean oil, remains lackluster, and this has been helping to keep a lid on values, which are down substantially from this time in 2022.
In addition, prices for renewable identification numbers (RINs) have been holding below $1.00/per gallon, and this continues to compress margins for renewable diesel (RD) producers. Several new RD plants are expected to start-up in the coming weeks in the U.S., but worries over demand are expected to linger.
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05.03.2024
Biodiesel imports fall to 8-month low in March; exports rise to 3-month high
Biodiesel imported into the US fell in March for the first time in four months while biodiesel exported from the US reached a three-month high.
Import demand from...
05.03.2024
BFT, soybean oil weekly average prices tumble
For the week to Friday, prices were broadly lower compared with the prior week’s average. Packer bleachable fancy tallow was down by 2.2% from the prior week’s average on...
05.03.2024
US animal protein prices remain under pressure; soymeal rises
US animal protein prices were mixed in the week to Friday May 3 but showed no large movements, with multiple market participants traveling for the Petfood Forum in Kansas...