Spot corn oil and cottonseed oil prices were listless, and prices were stable in the week ended Wednesday November 27.
Fastmarkets assessed cottonseed oil, PBSY, fob Mississippi Valley for nearby delivery at $0.5200 per lb on Wednesday, flat week on week but up from $0.5050 per lb at the start of November.
Basis indications for canola oil were also steady in the last week, holding at a premium of 10 cents per lb above the December soybean oil futures contract on the Chicago Mercantile Exchange.
On Wednesday, Fastmarkets assessed canola oil, RBD, fob Los Angeles at its lowest level in more than four years at $0.5075 per lb, down from $0.5259 per lb a day earlier.
The outright price tumbled sharply, with the December CME contract ending the session at $0.4075 per lb on Wednesday, down by $0.0184 per lb, or 4.3%, from a close of $0.4259 per lb on Tuesday November 26.
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