The US animal fats and oils markets remained mostly stable to slightly higher on Wednesday November 13, with a modest increase in trading, though many participants continued to exercise caution as they await clearer market direction.
Several market participants, particularly in the renewable fuels sector, noted they are well-covered for the remainder of the year and hesitant to commit to 2025 supply until economic conditions become more favorable.
While some anticipate that intervention from Washington could drive this shift, others believe the market may self-correct to address the imbalance caused by the expiration of the Blender’s Tax Credit (BTC).
“Markets are stuck with a lot of ‘price discovery’ in the form of wide bid/ask spreads and not much volume trading,” one source said.
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