Physical palm oil prices were firm to slightly higher on Tuesday, tracking another session of marginal gains in palm oil futures in Malaysia. Indications for coconut oil and palm kernel oil in the U.S. Gulf and NY/NOLA edged higher, although participants reiterated that very little actual trade continues to take place.
Global vegetable oil prices were higher on Tuesday, with palm and soybean oil futures advancing due to robust Malaysian exports and a rally in crude oil values. Markets surged on renewed talk that OPEC+ could extend crude oil supply cuts. Worries that hot and dry weather could lead to soybean yield losses and acreage reductions in Brazil also remained supportive for prices today.
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12.20.2024
45z guidance fails to appear; government scrambles to pass spending bill
The US government spending bill failed twice in as many days. If a deal is not reached by midnight on Friday December 20, some federal services will...
12.20.2024
US animal fats and oils end week softer across the board ahead of holiday slowdown
Prices for US animal fats and oils ended the week on a lower note on Friday December 20, with most markets trending downward ahead of the upcoming holiday week,...
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December cattle on feed down on month, year
Most US animal protein prices were rangebound for the week, though in wider ranges due to the impending Christmas and New Year's holiday closures.
The only significant price...