Bargain Buying Lifts World Vegetable Oil Markets
On Monday, technically-driven buying drove vegetable oil prices higher. However, soybean oil and palm oil prices remain well below recent highs following the sharp sell-off at the end of last week. In addition to the technically driven buying, oil/meal spreading also contributed to the gains in the soybean oil market. News that the Russian government would implement taxes on sunflower oil exports starting in September may have also contributed to the bullish tone. Position squaring will likely drive trading on Tuesday as traders look forward to the United States Department of Agriculture’s (USDA’s) reports on Wednesday for the near-term direction of the market.
The spread between the May soybean oil and palm oil contracts continued to narrow, falling below 10 cents for the first time since March 17. The July spread widened to…
01.09.2025
Additional 45z guidance expected on January 10
Information addressing the Bipartisan Infrastructure Law (BIL) and the Inflation Reduction Act (IRA) is expected to be released on Friday January 10, according to several sources speaking with...
01.09.2025
Prices for US animal fats and oils unchanged; market tightness persists
The US animal fats and oils markets were unchanged on Thursday January 9, as trade slowed following an active start to the week.
Participants continued to report stable pricing in...
01.09.2025
Averted ILA port strike eases animal protein market tension; November dog, cat food exports rise
US animal protein prices were steady on Thursday January 9. With the International Longshoremen’s Association (ILA) port strike avoided, sources expect unease to diminish to a degree. However, trade...