Edible oil spot and futures markets in the US ended a tepid trading week on a quiet note on Friday June 14.
Cash-basis indications on crude/de-gummed soybean oil in central Illinois and the US Gulf Coast did trend upward again this week amid improved multi-sector demand, tracking gains in tallow and choice white grease prices.
The benchmark soybean oil futures price in Chicago closed the week not far from where it started, below $0.44 per lb at $0.4368 per lb on Friday, down by 18 basis points per lb from $0.4386 per lb on Thursday June 13.
Activity in the soy oil futures market was dull this week, even after the USDA released its latest World Agricultural Supply and Demand Estimates (WASDE) on Wednesday June 12, offering few surprises and minor changes to its soybean and oil balance sheets.
The National Oilseed Processors Association (NOPA) will release its May estimate for US soybean crush on…
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