Soybean Oil Prices Unchanged Ahead of WASDE
Vegetable oil markets were marginally changed on Thursday as palm oil traders digested a pair of bullish fundamental reports. However, concerns about rising output and the desire to wait until the United States Department of Agriculture (USDA) published its monthly World Agricultural Supply and Demand Estimates (WASDE) kept a lid on any attempt to rally. Soybean oil traders are also awaiting the WASDE report, which will feature the first set of objective yield data for the 2020/21 crop from sample plots across the Corn Belt. Weakness in crude oil prices, which fell by about 2 1/2 percent, also capped any bullish enthusiasm.
Soybean oil futures were marginally mixed (December contract -1 basis point per pound). Selling at the 10-day moving average limited an overnight attempt to rally while buying at the five-day exponential moving average limited…
05.06.2024
Strong biodiesel production seen weighing on crude glycerin prices
The whispers of declining biodiesel production are meeting with resistance. Some observers have been sounding the alarm regarding declining production for over a year now, but if true, biodiesel...
05.06.2024
Average weekly hog slaughter to decrease into mid-June: Fastmarkets’ research team
Distillers’ corn oil (DCO) prices fell to 42-43.5 cents per lb delivered US Gulf on Monday May 6 for May-June shipments. There was additional trading reported on the same...
05.06.2024
Year-to-date commercial cattle production falls 2.30% y-o-y
US animal proteins prices were steady on Monday May 6. Limited trade was reported, with several market participants only testing prices, Fastmarkets heard.
US hog slaughter
Fastmarkets research...