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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04.30.2024
Biofuel feedstock demand rises while capacity declines: EIA
EIA Biofuels Capacity and Feedstock Update
The Energy Information Administration’s (EIA) Monthly Biofuels Capacity and Feedstocks Update, released on Tuesday April 30, showed that operable US biofuel capacity declined...
04.30.2024
Chicago edible tallow trades lower
The edible tallow price fell to 52 cents per lb Chicago basis on the afternoon of Tuesday April 30. Tallow trading was quiet outside of the edible tallow market.
04.30.2024
April animal protein values mixed month on month
US animal proteins prices were mostly steady on Tuesday April 30. Limited trade was again reported, with multiple market participants attending the Petfood Forum in Kansas City, Missouri, held...