Soybean Oil Futures Jump on Weather Rally in Soy Complex
Vegetable oil prices continued to rally on Thursday, with soybean oil prices jumping sharply on strong gains in soybean futures and fund spreading. Palm oil continued to follow soybean oil higher despite a bearish fundamental outlook. The strength in soybean oil also triggered a fresh rally in vegetable oil futures on the Dalian exchange. The gains on the Dalian exchange outpaced the Chinese cash markets were palm oil prices have held steady at lower levels while soybean oil prices have advanced, but remain close to the recent high set last week.
Soybean oil prices gained about three percent (December contract +97 basis points per pound) to settle at a fresh post-pandemic high and the highest level since late January. However, selling above the psychologically important 33.5-cent level in the benchmark December…
11.25.2024
Glycerin prices mostly stable even amid tightening kosher supplies
Glycerin prices were mostly stable on Monday November 25, with one source saying “market prices seem to be holding for now.”
Kosher glycerin supplies are “getting tighter,” according...
11.25.2024
Packer BFT, CWG trade higher; hog slaughter down week on week
Prices for packer-grade bleachable fancy tallow (BFT) moved higher on Monday November 25, in an otherwise quiet trade day ahead of the Thanksgiving holiday.
Five cars of packer BFT traded...
11.25.2024
Cattle slaughter six-week average projection down for holiday season
Trading was generally quiet in the US animal protein market on Monday November 25, though price ranges adjusted slightly in typical pre-holiday fashion.
Price pressure on ruminant meat...