Spot markets for vegetable oils were quiet on Monday. Market participants continued to point to lower indications in the Midwest corn oil market for both crude and refined corn oil. Feedstock supply is plentiful and demand from the biofuels sector continues to languish. Crude-degummed soybean oil basis at the Gulf was also lower, with assessments pegged at parity to 50 basis points above benchmark May soybean oil futures on the CME. Trading in the Gulf was reported at option.
After another volatile session, U.S. soybean oil futures were marginally higher at the close. The May soybean oil futures contract settled above 46.00 cents per pound, at 46.64 cents per pound, up 64 basis points per pound.
…
12.20.2024
45z guidance fails to appear; government scrambles to pass spending bill
The US government spending bill failed twice in as many days. If a deal is not reached by midnight on Friday December 20, some federal services will...
12.20.2024
US animal fats and oils end week softer across the board ahead of holiday slowdown
Prices for US animal fats and oils ended the week on a lower note on Friday December 20, with most markets trending downward ahead of the upcoming holiday week,...
12.20.2024
December cattle on feed down on month, year
Most US animal protein prices were rangebound for the week, though in wider ranges due to the impending Christmas and New Year's holiday closures.
The only significant price...