Cash market trading remained dull heading into the second half of January. Prices corn oil and cottonseed oil were flat. Basis levels on soybean oil in central Illinois and the Gulf remain depressed, with very little spot activity taking place. Logistics and transportation problems continue to be a big headache for a large portion of the industry this week.
“I think people are dealing with issues relative to the cold weather across the country [that came in] this weekend,” one trader said.
Basis indications for refined, bleached, and deodorized (RBD) soybean oil in central Illinois for delivery through the first quarter held to a range of 8-9 cents above March soybean oil futures on the CME.
December 2023 U.S. soybean crush hit a new all-time high, which is indicative of robust demand. However, the spot market is currently awash with soybean oil, and demand, especially from renewable diesel producers, has been very…
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...