Cash indications for vegetable oils closed the week with a whimper. Traders attributed the quiet market tone to soft margins, as well as next week’s annual American Fats and Oils Association Conference in Nashville. Pressure should continue in the near term due to lackluster interior demand for soybean oil and other edible oils.
Soybean oil and palm oil futures advanced again on Friday on fresh buying. Energy and other commodities markets were broadly higher early in the day due to heightened geopolitical concerns. The soybean futures complex initially rebounded on Thursday after the USDA’s WASDE report showed larger-than-expected cuts to soybean stocks as well as lower-than-projected crop yields.
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09.17.2024
US glycerin prices rangebound amid market uncertainty
The US glycerin market remained rangebound in the week to Tuesday September 17, with prices for 80% crude and kosher crude glycerin steady to slightly higher. Biodiesel producers are...
09.17.2024
US animal fats and oils mostly stable; CWG edges higher on strong demand
The US animal fats and oils markets were stable to slightly higher on Tuesday September 17, with minimal trading as some sources cited “well-covered” positions for the month.
09.17.2024
US porcine, ruminant bloodmeal prices fall; USDA slightly raises forecast for GCAU count in 2024/25 [corrected]
Prices were rangebound for most items on the US animal proteins market on Tuesday September 17. The exceptions were bloodmeal in the Missouri River, Texas Panhandle and Indiana markets,...