Cash vegetable oil markets were quiet to open the new week. Crude corn oil indications in the Midwest were steady in the low to mid-60s. Canola oil basis in Los Angeles was also unchanged at 19 cents but outright prices declined just about 100 basis points per pound alongside a sell-off in soybean oil futures in Chicago.
Technical selling and profit-taking by funds in the wake of the fall harvest season pressured U.S. bean oil markets. On the CME, October soy oil futures ended at 62.39 cents per pound, down 99 basis points per pound, or 1.6 percent. The most actively traded December contract closed at 60.94 cents per pound, down 112 basis points per pound, or 1.8 percent.
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10.17.2024
US DOE to guarantee nearly $3 billion in SAF loans to Gevo, Montana Renewables
The US Department of Energy’s Loan Programs Office announced on Wednesday October 16 conditional commitments for up to $2.9 billion in loans for two sustainable aviation fuel (SAF) producers.
10.17.2024
US fats and oils markets quiet amid industry event; DCO production up
The US animal fats and oils markets were quiet on Thursday October 17, with the majority of participants attending the American Fats and Oils Association (AFOA) event in Nashville.
The...
10.17.2024
US animal proteins market steady on October 17
US animal protein prices were steady on Thursday October 17, with market participants indicating a slow day for trading.
September USDA Feed Outlook
Grain consuming animal units (GCAUs)...