Although US soybean oil exports were down in the week to December 5, net sales for the 2024/2025 season bumped up to 63,800 tonnes from 19,500 tonnes the week before, figures released by the US Department of Agriculture on Thursday December 12 showed.
Meanwhile, over the same weekly period, soybean oil exports from the US were down by 59% on the week to 15,800 tonnes.
Globally, palm oil is usually the cheapest of the world’s edible oils that is priced at a discount of $30-40 per tonne to soybean oil. However, palm oil has been trading at a premium to soybean oil since August.
At the beginning of October, Argentina’s soyoil basis premiums rose above those for US soybean oil for the first time since 2022, making the US Gulf export market the most attractive option for foreign buyers, depending on distance and freight rates.
…
12.20.2024
45z guidance fails to appear; government scrambles to pass spending bill
The US government spending bill failed twice in as many days. If a deal is not reached by midnight on Friday December 20, some federal services will...
12.20.2024
US animal fats and oils end week softer across the board ahead of holiday slowdown
Prices for US animal fats and oils ended the week on a lower note on Friday December 20, with most markets trending downward ahead of the upcoming holiday week,...
12.20.2024
December cattle on feed down on month, year
Most US animal protein prices were rangebound for the week, though in wider ranges due to the impending Christmas and New Year's holiday closures.
The only significant price...