Selling across Commodities Drives Veg Oil Prices Sharply Lower
Edible oil prices opened the week more than two percent lower, weighed down by broad selling across commodities markets. The soy complex also continued to retreat amid the slow return of United States Gulf grain shipping terminals damaged by Hurricane Ida and favorable weather in the Midwest growing region. Forecasts call for cool temperatures and rain for many regions of the Corn Belt, including Illinois and Iowa, this week, as crops near maturity.
After the market close on Monday, in its Crop Progress report, the United States Department of Agriculture (USDA) showed six percent of soybeans had been harvested as of the week ending September 19, up from five percent during the same week in 2020 and flat to the four-year average. USDA also said 56 percent of the crop was rated good or excellent during the week ending September 19, down from 57 percent…
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...