Organic soybean prices in Europe continue to rise, topping more than 1K Euro per metric ton as offers. Merchandisers are saying there are very few bids that would reach for this offer at the moment. The issue remains that the Chinese supply of organic soybean meal has yet to make its way into Europe, which is putting upward pressure on prices.
Western Europe faces a fate that is similar to the issues facing US feed consumers. The market relies heaving on imports and when imports are slow to make their way into a country due to a disaster like COVID-19, prices become elevated.
It appears that many consumers in western-Europe are covered until Q3 but will begin to reach for higher prices is the short-fall in supply is not mitigated. Another concern is the lack of rain that has come to the EU in the Spring. Merchandisers are saying…
04.19.2024
Reduced March RIN production not leading to higher RIN Prices
Total March biofuel RIN production was 1.9 billion RINs, which was 6% below February and 15% below December’s RIN output of 2.25 billion. December had the largest monthly production...
04.19.2024
CWG, YG higher on week, UCO, DCO down again
The market was quiet heading into the weekend. Used cooking oil (UCO) traded in large volume into the Gulf at 40 cents per lb delivered in the truck market.
04.19.2024
Price pressure on ruminant and porcine items for the week
Sloppy markets were reported for porcine and ruminant items at the close of week ending Friday April 19.
Wide ranges were witnessed on porcine bloodmeal (BM), with a...