Rally in Crude Oil Lifts World Vegetable Oil Prices
A bounce in crude oil prices helped world vegetable oil markets recover a small portion of the declines posted on Tuesday. However, the commodities recovered from oversold levels, and the strength of the bounce is questionable. There is still little if any, storage in Cushing and the world remains historically oversupplied with crude oil, so if crude prices can not sustain the recovery, world vegetable oil prices could resume the move lower.
Soybean oil futures gained a little more than 3/4 percent (July contract +23 basis points) and settled well below the high of the day. However, the move was enough to leave the most actively traded July contract back within the…
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Renewable diesel tops petroleum diesel as CA’s most blended diesel fuel in 2023
The consumption of renewable diesel (RD) in California reached a new milestone in 2023, with RD blending surpassing that of petroleum diesel for the first time. Data released on...
05.01.2024
Distillers’ corn oil production moves higher
Four cars of technical tallow traded lower on Wednesday May 1, down to 47 cents per lb Chicago basis.
Used cooking oil (UCO) and yellow grease traded...
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Animal protein prices steady amid avian flu outbreak
US animal protein prices were steady or up on Wednesday May 1 amid limited reported trade, with multiple market participants attending the Petfood Forum in Kansas City, Missouri, this...