Cash markets were quiet on Monday March 25, with basis remaining at depressed levels for most US edible oils. Outright prices were flat to higher, however, as soybean oil futures in Chicago surged. Palm oil and refined palm product prices moved higher again, alongside ongoing gains in palm oil futures.
In Malaysia, the most actively traded palm oil futures contract (June) closed at 4,247 ringgit per tonne, up 59 ringgit per tonne, or 1.4%. The market reversed early losses and moved higher thanks to supportive Malaysian export data. Cargo surveyor figures for the first 25 days of March showed the country’s palm oil exports increased 21% from the same period in February.
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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...
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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,...
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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...