05.15.2024
Soybean oil stocks fall with slowing April crush
The soybean crush totaled 166.034 million bushels, down by 15% from a record of 196.406 million bushels in March and down by 4% from 173.232 million bushels crushed in...
*Please Note – Ryan Standard was out of the office today. He will return on Monday, October 30, 2023. In his absence, please contact Amanda Luhavalja at [email protected].*
The market was fairly quiet to end the week, with many travelling home from the North American Renderers Association (NARA) conference in Florida. Three railcars of packer BFT traded down 3.5 cents to 52.50 cts/lb Chicago, while three cars of render BFT traded down to 55 cts/lb Chicago. Two cars of choice white grease traded down two cents at 48 cts Chicago late this afternoon.
Lackluster demand for animal fats from the biofuels industry has pushed prices lower despite solid interest from the feed and oleochemical sectors. Additionally, the ongoing erosion in soybean oil and heating oil prices kept pressure on the market this week. Nearby soybean oil prices were down about five percent this week, while heating oil futures unwound three percent.
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