Trading was done at lower prices out of the North American market today, $0.9500 for two containers. The EU market was steady with last week’s numbers at €0,89. Most sources called the market quiet with a few expressing concern over the recent issues with the Chinese economy. With a devalued currency, prices paid from the Chinese market are likely going to have to come down in terms of US$ to keep pace with the decreased in currency value.
11.15.2024
October soybean crush reaches all-time monthly high; biofuel demand limits rise in soybean oil stocks
The National Oilseed Processors Association (NOPA) reported the October soybean crush at a record monthly high of 199.9592 million bushels, eclipsing the previous record of 196.406 million bushels set...
11.15.2024
UCO 2025 market clouded by China’s cancellation of export rebate
China will cancel its current 13% export tax rebate for used cooking oil (UCO), a key biofuel feedstock, effective December 1, the country’s Ministry of Finance and the State...
11.15.2024
US animal protein prices steady to firmer week on week; SBM under pressure
The US animal proteins market was steady to higher in the week to Friday November 15. Even with decreases in Chicago Board of Trade (CBOT) soybean meal futures, prices...