03.28.2025
Sausage casings bulletin, March 28, 2025
Runner market commentary
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Palm oil futures rose overnight, sweeping soybean oil futures higher during the week’s opening session. Monthly data released on Monday by the Malaysian Palm Oil Board (MPOB) showed better-than-expected exports and weaker-than-projected production, which worked to lift prices.
The soybean oil market also rallied today on expectations the USDA’s latest monthly WASDE report to be released on July 12 will show a major downward revision to U.S. soybean production and ending stocks for 2023/24. On average, the market is looking at soybean ending stocks at 243 million bushels, down from an estimate of 350 million bushels in June. This follows the June 30 release of USDA’s annual Prospective Plantings report that sharply lowered the soybean acreage forecast for the year.
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