Spot Midwest corn oil price indications bump higher

Spot Midwest corn oil price indications bump higher

The US vegetable oil cash market was generally dull on Tuesday February 25, although corn oil prices firmed up amid increased buying interest from the food sector for the second quarter, market sources said.

Midwest crude corn oil prices moved up to $0.50 per lb, from a level of $0.46-0.47 per lb, where they had remained for much of January and February because the majority of purchasers had their immediate needs for January, February and March met, trading sources told Fastmarkets at the time.

Fastmarkets assessed cottonseed oil, PBSY, fob Mississippi Valley at $0.50 per lb on Tuesday, unchanged on the week but down from $0.52-0.53 per lb two weeks earlier.

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