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.
…
05.01.2024
Renewable diesel tops petroleum diesel as CA’s most blended diesel fuel in 2023
The consumption of renewable diesel (RD) in California reached a new milestone in 2023, with RD blending surpassing that of petroleum diesel for the first time. Data released on...
05.01.2024
Distillers’ corn oil production moves higher
Four cars of technical tallow traded lower on Wednesday May 1, down to 47 cents per lb Chicago basis.
Used cooking oil (UCO) and yellow grease traded...
05.01.2024
Animal protein prices steady amid avian flu outbreak
US animal protein prices were steady or up on Wednesday May 1 amid limited reported trade, with multiple market participants attending the Petfood Forum in Kansas City, Missouri, this...