Cash market indications for corn oil and sunflower oil extended lower this week. Overall lackluster vegetable oil demand from the biofuels and non-biofuel sectors has led to a collapse in market prices. Midwest crude corn oil indications dropped to a level in the mid-50s cts/lb. Crude corn oil values have lost about 10 percent since the same period in 2023.
Sunflower oil prices in Minnesota/North Dakota moved down 100 basis points this week, from 74 cts/lb to 73 cts/lb. On the year, sunflower oil prices have fallen 45 cts/lb, or more than 38 percent, in value.
Figure 1.
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11.11.2024
Falling biodiesel margins lead to expectations for higher RINs, lower feedstock cost
Biodiesel margins continued to fall during the week ending Friday November 8, with rising feedstock cost pushing the soybean oil/heating oil (BOHO) spread to its highest level in more...
11.11.2024
DCO starts the week higher; hog slaughter increases slightly
Distillers’ corn oil (DCO) traded higher out of the FOB Midwest markets on Monday November 11 in what was otherwise a quiet market to start the week.
A...
11.11.2024
US cattle slaughter continues to fall behind 2023 levels
Trading was quiet in the US animal protein market on Monday November 11, with no price changes reported.
Cattle slaughter
Fastmarkets’ research team forecasts cattle slaughter at 625,000...