Trading was quiet to close out the week with no trading reported. Bloodmeal prices were indicated higher for next week, but no offers or bids were officially out today. MBM prices were also indicated higher for next week but again, there were no firm bids or offers in the market. October soybean meal prices are up 7 percent over the last week, which is supportive of higher prices in the near term. The prior three year average for ruminant MBM FOB Missouri River to nearby soybean meal for September is 77 percent, which implies a market value of $240.50 when applied to today’s soybean meal price. Applying the prior three-month (June – Aug) average relative price of 59 percent to today’s soybean meal price implies a value of $184.
Figure 1.
11.13.2024
Neste, Air Canada sign SAF agreement for Vancouver
Finnish transport fuel producer Neste and Air Canada have signed an agreement for the delivery of approximately 20 million gallons of sustainable aviation fuel (SAF) for use by the...
11.13.2024
CWG prices up slightly; DCO movements mixed
The US animal fats and oils markets remained mostly stable to slightly higher on Wednesday November 13, with a modest increase in trading, though many participants continued to exercise...
11.13.2024
2024/25 grain consuming animal unit headcounts increase by 0.39%
Meat and bonemeal, porcine and ruminant, Missouri River were lower on Wednesday November 13. Market sources told Fastmarkets that there are varied poultry and layer feed demand levels, with...