** Amanda is out of the office until Friday, March 1. In her absence, please contact Bob Lane – [email protected]**
Soybean oil prices reversed course and pushed higher on Monday, despite the latest Commitment of Traders report showing money managers increasing their net short positions, or bets on lower prices for soybeans. March soybean oil values increased 38 ticks to 44.40 cents per pound, reaching their highest level since last Wednesday. Front month soybean prices climbed three points to 11.36 per bushel. The market could be expecting a rebound in soybean oil prices, given tight U.S. soybean oil supply, and expected strong feedstock demand from the biofuel sector as the Rodeo Renewed refinery is forecast to ramp up operations next month.
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12.24.2024
Animal fats, oils markets quiet amid Christmas holiday
The US animal fats and oils markets remained steady on Tuesday December 24, amid limited trading due to the Christmas holidays.
Market sources expected activity to remain subdued...
12.24.2024
US November broiler, turkey slaughter down year on year
US animal protein prices were steady on Tuesday December 24, with limited volumes reported to have been traded. With the proximity of the end-of-year holidays, most market participants are...
12.24.2024
US weekly soybean, wheat export inspections rise, corn falls
Weekly export inspections
Export inspections of US grains showed a decline for corn but an increase for soybean and wheat in the week to December 19, according to data...