Weekly Recap
Weekly soybean futures prices cruised higher for a sixth consecutive week, reaching closing highs not seen since April of 2018. The November and January futures contracts climbed 20 percent during the six-week period, coasting five percent higher during the past week. Prices are buoyed by weather and export activity; any profit taking from the recent runup in price will likely be limited due to an expected continuation of strong Chinese demand. Frost was reportedly more damaging than many thought and is now expected to lower potential yields for North Dakota, South Dakota, and Minnesota. Soybean prices climbed 47.5 cents per bushel for the November futures contract and 48 cents for January. Price resistance is seen at $10.58 versus support at $10.17 for the November futures contract. Friday’s close was $1.39…
04.18.2024
Total RFS blending falls in March, domestic biodiesel blending increases
The Environmental Protection Agency (EPA) reported 1.66 billion gallons of renewable fuel blended within the nation’s transportation fuel pool during March. Blending was six percent below February and...
04.18.2024
EU UCO premium to US continues to grow
The US animal fats and oils market was mostly quiet on Thursday April 18, with a handful of price changes reported. Choice white grease (CWG) into the Missouri River...
04.18.2024
Ruminant meat and bonemeal price pressure in most regions
Price pressure was reported on several regions for meat and bone meal, ruminant and porcine items. Market sources said buyer pushback and light demand, with exception to the pet...