The MBM market into China was steady with sources reporting that activity was lessening by the day ahead of the CNY holiday. Indonesia was reported at a flat $450 CIF. Concerns over soybean production in South America and lower USDA projections have helped steer the CME March SBM contract up 11.5% over the last week. Buyers have taken note and have been more willing to pay the higher asking prices. US sellers are in a better position as well, which…
11.15.2024
October soybean crush reaches all-time monthly high; biofuel demand limits rise in soybean oil stocks
The National Oilseed Processors Association (NOPA) reported the October soybean crush at a record monthly high of 199.9592 million bushels, eclipsing the previous record of 196.406 million bushels set...
11.15.2024
UCO 2025 market clouded by China’s cancellation of export rebate
China will cancel its current 13% export tax rebate for used cooking oil (UCO), a key biofuel feedstock, effective December 1, the country’s Ministry of Finance and the State...
11.15.2024
US animal protein prices steady to firmer week on week; SBM under pressure
The US animal proteins market was steady to higher in the week to Friday November 15. Even with decreases in Chicago Board of Trade (CBOT) soybean meal futures, prices...