**Please note – There will be no Vegetable Oil bulletin on March 29, 2024, in observance of Good Friday.**
Cash vegetable oil markets were quiet on Thursday March 28. Soybean oil basis levels held relatively steady for much of the week, with little, if any, trading reported. Some sellers of crude-degummed soybean oil in central Illinois pushed their offers higher earlier in the week but were met with resistance from the buy side.
The USDA’s annual prospective plantings report released at midday estimated the U.S. soybean planting area for 2024 at 86.51 million acres, up 3.4% from 2023 and within analyst outlooks. Still, the figure was down from the USDA’s projection of 87.5 million soybean acres in February.
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04.29.2024
Strong domestic biodiesel margins support rising crude glycerin inventory
Crude glycerin prices are holding steady to slightly lower in the week to Monday April 29, with improved biodiesel margins helping to keep the supply of glycerin strong.
04.29.2024
Gulf tallow prices higher; optimism builds for higher demand for June
Tallow traded higher into the US Gulf market on Monday April 29, up to 41 cents per lb delivered. Outside of the Gulf market, trading was quiet with sources...
04.29.2024
Animal protein prices steady at start of the week
US animal proteins were steady on Monday April 29. Limited trade was reported, with multiple market participants are expected to attend the Petfood Forum in Kansas City, Missouri, this...