Reduced Corn and Soybean Acreage Sends Grains Higher
The USDA released their highly anticipated June Acreage and Quarterly Grain Stocks Reports this afternoon. The USDA pegged corn and soybean acreage at 175.8 million acres versus its March estimate of 180.5 million. Corn acreage was just over 92 million, well below the 96.99 million from the USDA March estimate. Soybean acreage is seen at 83.82 million versus the March estimate of 83.51 million. Somewhere along the way, the Ag community seems to have misplaced about five million acres of production.
The reduction in corn planting pushed December corn futures 15.75 cents per bushel higher. The acreage reduction could lead to a balance sheet decline of close to a half bushel per acre. The weekly…
11.12.2024
Glycerin prices seen supported by declining biodiesel margins
Glycerin is a co-product of biodiesel production, and its supply is dependent on biodiesel margins. The more profitable the margin environment for biodiesel, the larger the supply of glycerin....
11.12.2024
Animal fats and oils prices stable amid losses in vegoil markets
"I think the big drop in soybean oil had everyone take a pause,” one source said.
December soybean oil futures closed at 46.23 cents per lb on Tuesday, down by...
11.12.2024
Meat and bonemeal, bloodmeal higher on active demand
Prices were highly mixed on Tuesday November 12, with active demand reported by market sources.
Porcine meat and bonemeal prices were steady to higher according to sources...