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.
…
05.03.2024
Biodiesel imports fall to 8-month low in March; exports rise to 3-month high
Biodiesel imported into the US fell in March for the first time in four months while biodiesel exported from the US reached a three-month high.
Import demand from...
05.03.2024
BFT, soybean oil weekly average prices tumble
For the week to Friday, prices were broadly lower compared with the prior week’s average. Packer bleachable fancy tallow was down by 2.2% from the prior week’s average on...
05.03.2024
US animal protein prices remain under pressure; soymeal rises
US animal protein prices were mixed in the week to Friday May 3 but showed no large movements, with multiple market participants traveling for the Petfood Forum in Kansas...