Strength in Soybean Market Drives Rally in Soybean Oil Prices
World vegetable oil prices rallied on Monday despite fund liquidation of long oil share positions and bearish cargo surveyor data in Malaysia. A resumption in the rally of vegetable oil prices on the Dalian exchange and higher cash vegetable oil prices contributed to the bullish tone. Strength in crude oil prices, which settled nearly two percent higher, also triggered buying in vegetable oil contracts.
Soybean oil futures rose nearly 1 1/2 percent (December contract +44 basis points per pound) on the strength in soybean prices and bullish data from the National Oilseed Processors Association (NOPA). The move higher nearly erased the decline in prices late last week but left the benchmark December contract just below the recent high set on Wednesday at 31.55 cents. Selling at the upper Bollinger band and fund…
11.13.2024
Neste, Air Canada sign SAF agreement for Vancouver
Finnish transport fuel producer Neste and Air Canada have signed an agreement for the delivery of approximately 20 million gallons of sustainable aviation fuel (SAF) for use by the...
11.13.2024
CWG prices up slightly; DCO movements mixed
The US animal fats and oils markets remained mostly stable to slightly higher on Wednesday November 13, with a modest increase in trading, though many participants continued to exercise...
11.13.2024
2024/25 grain consuming animal unit headcounts increase by 0.39%
Meat and bonemeal, porcine and ruminant, Missouri River were lower on Wednesday November 13. Market sources told Fastmarkets that there are varied poultry and layer feed demand levels, with...