Strong Feed Complex Supportive of Current Market Prices

The protein market remains firm with sellers seeing good demand from the feed and pet food sectors. Soybean meal prices were off today, falling to a $321.70 on the May contract. In the near term, The Jacobsen is forecasting soybean meal prices to rise, and this is supportive of stronger animal protein values. With ethanol plants starting to idle, DDGS production is expected to tighten significantly. Higher bean meal and DDGS…