Corn oil, coconut oil, and cottonseed oil price indications were mostly unchanged to slightly lower, holding within previously set ranges. Crude corn oil prices shot higher in the Midwest the week prior due to increased buying interest. Still, overall demand in the U.S. interior from the renewable sector for edible oils, including soybean oil, remains lackluster, and this has been helping to keep a lid on values, which are down substantially from this time in 2022.
In addition, prices for renewable identification numbers (RINs) have been holding below $1.00/per gallon, and this continues to compress margins for renewable diesel (RD) producers. Several new RD plants are expected to start-up in the coming weeks in the U.S., but worries over demand are expected to linger.
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12.20.2024
45z guidance fails to appear; government scrambles to pass spending bill
The US government spending bill failed twice in as many days. If a deal is not reached by midnight on Friday December 20, some federal services will...
12.20.2024
US animal fats and oils end week softer across the board ahead of holiday slowdown
Prices for US animal fats and oils ended the week on a lower note on Friday December 20, with most markets trending downward ahead of the upcoming holiday week,...
12.20.2024
December cattle on feed down on month, year
Most US animal protein prices were rangebound for the week, though in wider ranges due to the impending Christmas and New Year's holiday closures.
The only significant price...