Vegetable Oil Prices Mixed, but May Head Lower
World vegetable oil markets were mixed on Wednesday as both soybean oil and palm oil traders largely ignored the movement in the energy market. Crude oil remained under pressure for most of the overnight session and during U.S. trading hours and was down about two percent at the close of U.S. agricultural trading.
Soybean oil futures fell more than 1 1/4 percent (July contract -35 basis points per pound) as broad selling across agricultural futures and weakness in soybean prices triggered selling. Fund oil share spreading also weighed on prices. The decline left the most actively traded July contract back below the psychologically important 26-cent level, which erased most of the gains made last week.
Palm oil futures gained almost two percent (July contract…
12.27.2024
US RD, SAF supplies remain strong despite declining import volumes
US supplies of sustainable aviation fuel (SAF) fell sharply in November but reached the highest November volume on record, according to data released on Thursday December 26 by the...
12.27.2024
Animal fats and oils end week steady amid holiday-limited trades
The US animal fats and oils markets held steady on Friday December 27, with limited trades persisting due to the holiday season.
Weekly averages were unchanged from the prior week...
12.27.2024
Relative prices of US meat and bonemeal rise amid depressed soybean meal market: 2024 recap
US animal protein prices were steady to lower on Friday December 27. Some participants reported distressed loads in the market late in the afternoon of Thursday December 26 and...