The reduction in bean stocks in this morning’s WASDE has the Board excited and showing a lot of green. As of noon CT, nearby bean meal prices are up $16 from Tuesday’s close of $336. There was some light trading for MBM done out of the Mo. River market at $315 today, but the market was otherwise quiet. Sellers seem to have most, if not all, of this week’s material sold.
Porcine trading was down today, $1550 – 1575 Mo. River.
Figure 1.
11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
11.22.2024
Gulf prices average higher despite weeklong declines in SBO
For the week ended Friday November 22, packer bleachable fancy tallow (BFT) remained unchanged from the previous week’s average, while Gulf Coast-delivered tallow rose 2.7%, primarily...
11.22.2024
Bloodmeal largest price mover week on week; November cattle on feed higher
US animal protein prices were mixed to mostly higher for the week to Friday November 22, with only meat and bonemeal showing a slight price reduction due to tighter...