The USDA’s soybean oil ending stocks outlook for the 2022/23 crop season declined 159 million pounds to 1.6 billion pounds. The decline trickled through the 2023/24 crop season as well, lowering ending stocks there by 159 million pounds to 1.577 billion pounds. Increased soybean oil demand from the biofuel industry accounted for the largest segment of the decline.
USDA increased expected biofuel demand by 300 million pounds to 12.4 billion pounds. They also lowered soybean oil production 38 million pounds and increased exports by eight million pounds. Partially offsetting these moves was a slight increase in soybean oil imports and a decline in the domestic “food, feed and other” category.
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09.13.2024
Haffner Energy to spin off SAF division as independent company
French-based technology company Haffner Energy will spin off its sustainable aviation fuel (SAF) division into an independent entity called SAF Zero, the company announced on Friday September 13.
09.13.2024
Animal fats and oils markets end week stable to lower as SBO, HO continues decline
Prices for used cooking oil (UCO) were slightly lower on Friday September 13, as the heating oil (HO) and soybean oil (SBO) markets continued to slump, closing out the...
09.13.2024
Lackluster trade volume keeps most animal proteins flat
A quiet tone was noted by most market sources in the US animal proteins market for the week to Friday September 13. The only price adjustments were on bloodmeal,...