Vegetable oil prices have continued to decline taking out short term support levels, as a robust dollar and weak technicals have combined with strong supply to erode prices. The dollar index hit a 12- year high this week, and given that the majority of vegetable oil is quoted in dollars, a stronger dollar leads to lower prices.
Soybean oil futures prices broke down through suport levels driving…
05.03.2024
Biodiesel imports fall to 8-month low in March; exports rise to 3-month high
Biodiesel imported into the US fell in March for the first time in four months while biodiesel exported from the US reached a three-month high.
Import demand from...
05.03.2024
BFT, soybean oil weekly average prices tumble
For the week to Friday, prices were broadly lower compared with the prior week’s average. Packer bleachable fancy tallow was down by 2.2% from the prior week’s average on...
05.03.2024
US animal protein prices remain under pressure; soymeal rises
US animal protein prices were mixed in the week to Friday May 3 but showed no large movements, with multiple market participants traveling for the Petfood Forum in Kansas...