COMMODITY OIL TRENDS

Farmer's Report

SOY, CANOLA & PALM OIL Trends - May 7, 2021

SOY OIL

The July Soybean oil futures contract closed lower than last week, closing Wednesday, May 5, 2021, at $63.47/cwt.

Reported market drivers:

  • Dry weather in the northern U.S. plains
  • Low Soybean stocks in the U.S.

CANOLA

  • Canola seed prices reached another all-time high this week
  • Chinese demand has drawn Canada’s Canola Seed stock very low, according to analysts

PALM OIL

  • Palm Oil prices remain near record highs
  • Palm Oil stocks in Malaysia are at a 13-year low

Mayo & Margarine

  • The Soy and Palm Oil components of Mayonnaise and Margarine have increased substantially this year, according to analysts

The data contained in the Farmer’s Report is provided for informational purposes only, is not tailored to your specific purchasing needs, and is not intended as a substitute for any other publicly-available market data or information. The Farmer’s Report is compiled from the last-received market data provided by the United States Department of Agriculture (USDA) and/or other market sources, and is subject to change without notice. Nothing herein is the opinion of US Foods®. US Foods neither assumes any legal liability nor makes any warranty or guaranty, either express or implied, regarding the completeness, accuracy or usefulness of this information.