Palm Oil Extends Climb, Soybean Oil Declines Further as Funds Sell-Off
Vegetable oil prices were mixed again on Wednesday, as palm oil futures extended higher for a fifth session and soybean oil continued lower. Reversing early gains, nearby soy oil futures contracts finished the day less than one percent lower (September contract -31 basis points per pound and October contract -26 basis points per pound) as fund selling pressed on the markets. Benchmark soybean oil prices lost less than one percent (December contract -27 basis points per pound), while contracts for 2022 saw negligible losses of less than 1/2 percent (May 2022 contract -20 basis points per pound).
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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...