Trading in the US cash vegetable oil market remained quiet on Tuesday August 20.
Fastmarkets assessed cottonseed oil, PBSY, fob Mississippi Valley for nearby delivery at $0.4800 per lb on Tuesday, down from $0.4950 per lb a week ago.
In the last week, cottonseed and corn oil prices have eased, in step with the recent plunge in the soybean oil market that sent futures prices below $0.40 per lb to 3½-year lows.
However, basis indications for canola oil have been on a slow grind higher after outright prices fell to three-year lows in the second quarter of this year.
Fastmarkets assessed canola oil, refined, bleached and deodorized (RBD), fob Los Angeles at $0.5371 per lb on Tuesday, up from $0.5347 per lb on Monday August 19. The September soybean oil futures contract on the Chicago Mercantile Exchange moved up to a premium of 13 cents per lb from a premium of 12 cents per lb at the end of last week.
…
11.21.2024
Domestic US biodiesel blending helps lift October RFS RIN production
US domestic biodiesel blending of 147.5 million gallons in October produced a monthly high of 221.2 million renewable identification number (RIN) credits for January-October. This was 11.5% above September...
11.21.2024
CWG trades lower as broader animal fats markets hold steady
The US animal fats and oils markets held steady on Thursday November 21, with limited trading as attention shifted toward broader macroeconomic factors and...
11.21.2024
October commercial cattle, hog production above 2023
US animal protein prices were steady on Thursday November 21. Limited trade was reported from market sources due to the proximity of the extended Thanksgiving holiday weekend in the...