Weekly Recap – Increased Ethanol Output Leads to Higher Weekly DDGS Supply
Soybean futures rallied more than four percent last week, erasing the two percent decline from the week prior. Strong export activity continues to underpin the soybean market. China, Mexico, and Egypt were all strong buyers of soybeans but some in the market are concerned China’s buying pace could slow. These concerns were not enough to limit price appreciation as exports of 1.5 million metric tons were at the high end of expectations. This season’s export pace is 130 percent above last season’s. Soybean futures are at their highest levels since 2016 with the harvest looking to conclude this week or next. More than 87 percent of the crop has been harvested, which is above the historical average…
11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
11.22.2024
Gulf prices average higher despite weeklong declines in SBO
For the week ended Friday November 22, packer bleachable fancy tallow (BFT) remained unchanged from the previous week’s average, while Gulf Coast-delivered tallow rose 2.7%, primarily...
11.22.2024
Bloodmeal largest price mover week on week; November cattle on feed higher
US animal protein prices were mixed to mostly higher for the week to Friday November 22, with only meat and bonemeal showing a slight price reduction due to tighter...