Vegetable Oil Prices Rally on Bullish Data and Rise in Crude
World vegetable oil prices rallied on Tuesday, driven by gains in crude oil and bullish fundamental data. For palm oil, cargo surveyor data indicating shipments for the first 15 days of June rose about 80 percent from the same period in May sparked buying. It seems doubtful the relative pace of exports will remain at the current level for the balance of the month. However, The Jacobsen does believe restocking in India and China will lift shipments by about 25 percent from the relatively low total posted in May. If exports follow the typical seasonal pattern following June, the increase in June would be enough to substantially reduce the outlook for market-year-ending inventories and could support prices. It is too soon to say with any certainty whether the fundamentals will remain bullish, but with each day of large shipments, the supportive…
11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
11.22.2024
Gulf prices average higher despite weeklong declines in SBO
For the week ended Friday November 22, packer bleachable fancy tallow (BFT) remained unchanged from the previous week’s average, while Gulf Coast-delivered tallow rose 2.7%, primarily...
11.22.2024
Bloodmeal largest price mover week on week; November cattle on feed higher
US animal protein prices were mixed to mostly higher for the week to Friday November 22, with only meat and bonemeal showing a slight price reduction due to tighter...