Soy Oil Extends Higher on Fund Oil/Meal Spreading, Palm Oil Slips
Vegetable oil prices were mixed on Tuesday, with palm oil shifting lower on profit taking and soybean oil futures extending higher due to fund oil/meal spreading. The soy oil complex climbed alongside strength in crude oil markets and worries over tightening stocks and Midwest crop growing conditions. After the market close on August 23, the United States Department of Agriculture (USDA), in its Crop Progress report for the week ending August 22, said 56 percent of the soybean crop was rated good or excellent, down from 57 percent the week prior and 69 percent reported a year earlier.
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05.03.2024
Biodiesel imports fall to 8-month low in March; exports rise to 3-month high
Biodiesel imported into the US fell in March for the first time in four months while biodiesel exported from the US reached a three-month high.
Import demand from...
05.03.2024
BFT, soybean oil weekly average prices tumble
For the week to Friday, prices were broadly lower compared with the prior week’s average. Packer bleachable fancy tallow was down by 2.2% from the prior week’s average on...
05.03.2024
US animal protein prices remain under pressure; soymeal rises
US animal protein prices were mixed in the week to Friday May 3 but showed no large movements, with multiple market participants traveling for the Petfood Forum in Kansas...