Spot market trading was dull Wednesday in light of the annual American Fats and Oils Association Conference in Nashville. Soybean oil futures eased further at midweek on additional profit-taking. The most widely traded soybean oil futures contract in Chicago closed below 55 cents per pound, at 54.86 cents per pound, down 49 basis points per pound, or 0.9 percent.
Soybean oil and other feedstock markets have been under pressure over the last few weeks. Demand in the U.S. interior from the biodiesel and renewable diesel sectors has been subdued because many of them extended coverage through the end of the fourth quarter and into the first quarter, and biofuels margins have been poor.
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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,...