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…
10.18.2024
RIN prices fall week on week despite lower reported US biodiesel output
Prices for renewable identification numbers (RINs) fell week on week on Friday October 18 despite lower production reported for September, and US biofuels markets remain in limbo over awaited...
10.18.2024
US DCO prices decrease amid quiet trade week
US animal fats and oils markets ended the week stable to slightly lower on Friday October 18, following a quiet week of trading as many participants attended the American...
10.18.2024
Lackluster trade volume keeps weekly US animal proteins prices mostly steady
US animal proteins prices were steady to slightly lower for the week to Friday October 18 on limited trade volume.
Several market participants told Fastmarkets it was a...