COMMODITY OIL TRENDS

Farmer's Report

SOY, CANOLA & PALM OIL Trends - January 22, 2021

SOY OIL

March Soybean oil futures finished up from last week, closing Wednesday, January 20, 2021 at $42.47/cwt.

Reported market drivers:

  • Low U.S. ending Soybean stocks projected by the USDA
  • Reduced exports out of South America
  • Strong U.S. export demand

CANOLA

  • Canola prices were slightly down this week, after making multi-year highs last week
  • Canada’s exports to China have drawn stockpiles low

PALM OIL

  • Palm Oil pricing dropped 8% over the past week
  • Indonesian Palm exports have increased after Malaysian production declined

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.