Trading at the spot market was listless to kick off the week on Monday. Prices were generally unchanged or slightly higher, in step with a rebound in March soybean oil futures in Chicago. On the CME, benchmark March soybean oil futures closed at 45.33 cents per pound, rising 60 basis points per pound, or 1.3 percent.
Soybean oil prices recently dropped to three-year lows, as supply has been outpacing consumption, particularly from the U.S. biofuels sector. Many producers covered their positions through the first quarter of this year, while others reduced output at plants over the last few weeks due to operational issues and additional losses for renewable identification number (RIN) markets.
…
11.12.2024
Glycerin prices seen supported by declining biodiesel margins
Glycerin is a co-product of biodiesel production, and its supply is dependent on biodiesel margins. The more profitable the margin environment for biodiesel, the larger the supply of glycerin....
11.12.2024
Animal fats and oils prices stable amid losses in vegoil markets
"I think the big drop in soybean oil had everyone take a pause,” one source said.
December soybean oil futures closed at 46.23 cents per lb on Tuesday, down by...
11.12.2024
Meat and bonemeal, bloodmeal higher on active demand
Prices were highly mixed on Tuesday November 12, with active demand reported by market sources.
Porcine meat and bonemeal prices were steady to higher according to sources...