**Please note, The Jacobsen will close at 1:00 PM CT on Wednesday and will not publish a bulletin on Thursday and Friday in observance of the Thanksgiving holiday. A price update will be published on Friday without commentary.**
Soybean oil spot markets were very quiet to open the Thanksgiving holiday-shortened week. Nearby indications for crude-degummed soybean oil in central Illinois and the Gulf stepped back from early last week’s levels to 2.5-4.5 cents and 5.5-6.5 cents, respectively.
Anecdotal reports of decreased demand in recent weeks, not only from the renewable diesel (RD) sector but also from the food industry, have pressed on soybean oil indications. Sources have continued to report that large buyers are covered through the first quarter of 2023 in many cases and are not looking to add coverage until the second quarter.
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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...