The estimated crush margin declined on a weekly basis in Central IL, reaching a 5-week low as soybean prices raced to a multi-year high. The value received from oil and meal sales per bushel of soybeans crushed increased from $13.27 per bushel to $13.44, but could not keep pace with a 4.5 percent climb in soybean prices that lifted values 49 cents higher to $11.45 per bushel. This caused the margin to narrow 32 cents to $1.99 per bushel.
Soybean, soybean meal and soybean oil prices remain well supported relative to last year. Strong cash market gains and export demand have pushed soybean prices to levels not seen since 2016. Soybean prices are 25 percent over last year’s value, soybean oil is 23 percent stronger, and meal prices are up 27 percent relative to last year. Despite this week’s margin decline, the crush margin…
11.21.2024
Domestic US biodiesel blending helps lift October RFS RIN production
US domestic biodiesel blending of 147.5 million gallons in October produced a monthly high of 221.2 million renewable identification number (RIN) credits for January-October. This was 11.5% above September...
11.21.2024
CWG trades lower as broader animal fats markets hold steady
The US animal fats and oils markets held steady on Thursday November 21, with limited trading as attention shifted toward broader macroeconomic factors and...
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October commercial cattle, hog production above 2023
US animal protein prices were steady on Thursday November 21. Limited trade was reported from market sources due to the proximity of the extended Thanksgiving holiday weekend in the...