Milling & Baking News - February 22, 2022 - 45

SPOT SOYBEAN OIL
SPOT CANOLA OIL
20
30
40
50
60
70
80
90
FM AN
Previous Year
Edible Oils
Bookings of edible oils and fats were limited
last week. Prices were mixed.
Soybean oil prices advanced. Soybean oil
futures rose in sometimes turbulent trading
and set new contract highs. South American
weather exerted both a push and a pull on soy
complex futures. Beneficial rain reached some
parched soybean fields in Argentina, but forecasts
suggested a return of dry conditions.
The cash basis on soybean oil was steady to
weaker as coverage was extensive and supplies
remained readily available. Basis coverage
was said to be nearly complete through
June, and July-September coverage was estimated
at 30%. Buyers were said to be hopeful
high basis levels in later months will decline.
Soybean oil users booked enough supply to
keep contract balances extended about 75 days.
The National Oilseed Processors Association
said 182,216,000 bus of soybeans were
crushed in January, down from 186,438,000
bus in December and below trade expectations
that averaged a record-high 186,700,000
bus. Soybean oil stocks at the end of January
totaled 2,026 million lbs, down from 2,031
million lbs in December and lower than
trade expectations averaging 2,062 million
Current Year
108
28
38
48
58
68
78
88
98
FM AN
Previous Year
Current Year
CHICAGO SOYBEAN OIL FUTURES
Feb. 18
- Change from -
Delivery
March
May
July
August
September
October
close
67.57
67.61
67.32
66.34
65.18
64.07
Bulk in tank cars, cents per lb
lbs due to the smaller crush.
The US Department of Agriculture in its
weekly Export Sales report said net export
sales of soybean oil during the week ended
Feb. 10 for delivery in 2021-22 totaled 35,400
tonnes, up noticeably from both the previous
week and the prior four-week average.
The largest volume was sold to " unknown
destinations. "
The premium to soybean oil futures asked
for refined canola oil in the Midwest narrowed
to 17¢ a lb compared with about 22¢ a
lb a few weeks ago. But stocks remained tight
with Statistics Canada estimating Canada's
Dec. 31 inventory to be the lowest since 2007.
Meat fat prices remained strong because
of lower slaughter numbers and weights and
strong demand from the biofuels sector.
Palm oil prices rose. Production in
Malaysia and Indonesia was seasonally slow.
The Malaysian Palm Oil Board estimated
a 3.8% month-over-month reduction in the
country's palm oil stocks. Rising prices also
found support in India's 2.5% reduction of
its import tax, which increased demand for
palm oil in that country. US palm oil users
earlier covered their needs through the first
half of 2022. MBN
Delivery
February
March
April
May
June
July
August
CRUDE SOYBEAN OIL
Decatur, Ill.
71.07 @ 71.57
71.07 @ 71.57
72.09 @ 72.59
72.11 @ 72.61
71.97 @ 72.47
71.82 @ 73.82
72.34 @ 72.84
Bulk in tank cars, cents per lb
EDIBLE OILS
Feb. 18
Soybean oil,
Decatur
Cottonseed oil,
Miss. PBSY
Palm kernel oil
(RBD), ports
Coconut oil
Peanut oil,
Southeast
Corn oil, Decatur
Sunflowerseed oil,
Midwest
Canola oil,
Midwest
Bulk, cents per lb
71.50 +2.25
Loose lard, Chicago 79.50 +4.50
Edible tallow, Chicago 79.50 +1.50
101.00 +2.25
Palm oil (RBD), ports 73.75 +4.50
99.50 +2.00
105.00
-
84.00 +2.00
116.00 +.50
84.50
-3.25
Feb. 11
+1.85
+1.95
+2.18
+2.29
+2.22
+2.03
Feb. 4
+2.21
+2.21
+2.31
+2.23
+2.01
+1.79
Year
ago
47.55
46.89
46.10
45.10
44.04
43.17
Western points
70.57 @ 71.07
70.57 @ 71.07
71.59 @ 72.09
71.61 @ 72.11
71.47 @ 71.97
72.82 @ 73.32
71.84 @ 72.34
- Change from - Year
Feb. 11
Feb. 4
ago
+1.50 50.50
+2.50
51.00
+.75 54.50
+.50
75.50
+3.50 55.25
+1.50 81.00
103.00 +9.00 +9.00 67.00
- 92.00
-2.75 66.00
+1.50
...
-5.00 59.00
Premium flour
since 1906
SHAWNEE FLOUR
Bakers, H & R
Food Service/Retail
Private Label
All Purpose
Self-Rising
Whole Wheat
Custom Mixes
SHAWNEE CORN MEAL
White/Yellow
Meal, Flour, Cones, Coarse
Self Rising
OKEENE FLOUR
Bakers, Pastry, Whole Wheat
Shawnee Milling Company
P.O. Box 1567, Shawnee, OK 74802-1567
405-273-7000
Okeene Milling Company
P.O. Box 1000, Okeene, OK 73763
580-822-4411
Contact: Sarah Haselwood
shaselwood@shawneemilling.com
www.shawneemilling.com
Decatur, Ill., bulk, cents per lb
Refined, Midwest, bulk, cents per lb
http://www.shawneemilling.com
Milling & Baking News - February 22, 2022

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