Veg Oil Prices End Volatile Week Lower Despite Friday Rally
Vegetable oil prices were higher on Friday, with short-covering and bargain buying lifting oilseed futures contracts in front of the weekend following a massive liquidation by funds on June 17.
For the first time in eight consecutive sessions, benchmark soybean oil futures ended higher, settling up 2 3/4 percent (July contract +155 basis points per pound). Still, nearby soybean oil futures, which reached a record intraday high of 73.74 cents per pound on June 7, fell almost 17 percent on the week. Deferred contracts saw much steeper gains, as spreads weakened and prices in the back end of the curve closed up 7 1/4 percent (January 2022 contract +404 basis points per pound and March 2022 contract +430 basis points per pound).
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04.30.2024
Biofuel feedstock demand rises while capacity declines: EIA
EIA Biofuels Capacity and Feedstock Update
The Energy Information Administration’s (EIA) Monthly Biofuels Capacity and Feedstocks Update, released on Tuesday April 30, showed that operable US biofuel capacity declined...
04.30.2024
Chicago edible tallow trades lower
The edible tallow price fell to 52 cents per lb Chicago basis on the afternoon of Tuesday April 30. Tallow trading was quiet outside of the edible tallow market.
04.30.2024
April animal protein values mixed month on month
US animal proteins prices were mostly steady on Tuesday April 30. Limited trade was again reported, with multiple market participants attending the Petfood Forum in Kansas City, Missouri, held...