Soy Oil Sets New High After Drop in USDA’s Ending Stocks
Vegetable oil futures continued to move higher on Tuesday. While the United States Department of Agriculture’s (USDA’s) World Agricultural Supply and Demand Estimates (WASDE) provided few changes, reductions in its predictions of 2020/21 U.S. soybean and soybean oil ending stocks continued the bullish fundamental backdrop. A 100-million-gallon addition to USDA’s forecast of 2020/21 U.S. biodiesel use raised its forecast from 8.1 billion to 8.2 billion pounds, almost 500 million below The Jacobsen’s expectation of 8.69 billion. The increase reduced USDA’s ending stocks prediction to 1.71 billion pounds, nearly 200 million pounds above The Jacobsen’s 1.52-billion-pound projection.
Soybean futures ended the day slightly below where they were trading just ahead of the WASDE report. However,…
05.14.2024
LCFS credit trading volumes, prices decline on week
California Low Carbon Fuel Standard (LCFS) credit volumes declined sharply while the average credit price moved lower in the week ended Sunday May 12, according to the figures released...
05.14.2024
Animal fats prices steady on the week; Weekly average DCO 36.89% under three year average
Animal fats prices were flat on Tuesday May 14, with limited trade volume reported. Several participants indicated doing trade ahead of the current week due to the Fastmarket’s Biofuels...
05.14.2024
Dog, cat food exports for Q1 2024 drop in price, volume year on year
Animal proteins prices were steady to lower on Tuesday May 14, with limited trade volume reported. Several participants indicated doing trade ahead of the current week due to the...