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Soybean oil prices reversed course and pushed higher on Monday, despite the latest Commitment of Traders report showing money managers increasing their net short positions, or bets on lower prices for soybeans. March soybean oil values increased 38 ticks to 44.40 cents per pound, reaching their highest level since last Wednesday. Front month soybean prices climbed three points to 11.36 per bushel. The market could be expecting a rebound in soybean oil prices, given tight U.S. soybean oil supply, and expected strong feedstock demand from the biofuel sector as the Rodeo Renewed refinery is forecast to ramp up operations next month.
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12.26.2024
East Coast renewable diesel supplies likely to decline: EIA
Renewable diesel supplies on the US East Coast could be cut in half starting in January as the Clean Fuel Production Credit (CFPC) replaces the expiring Blender’s Tax Credit,...
12.26.2024
US animal fats and oils markets mostly stable, with movement only in CWG
The US animal fats and oils markets were largely steady on Thursday December 26 amid limited trade activity due to the Christmas holiday.
The only notable activity observed...
12.26.2024
Avian flu spikes in poultry, cattle sector at end of 2024
US animal protein prices were steady on Thursday December 26, with limited volumes reported to have been traded.
US avian flu update
Year-to-date US poultry headcounts affected by...