The estimated crush margin remained relatively unchanged on a weekly basis in Central IL, edging slightly higher as commodity prices continue to climb. The value received from oil and meal sales per bushel of soybeans crushed increased from $13.44 per bushel to $13.84, barely outpacing the 3.4 percent climb in soybean prices that lifted values 39 cents to $11.84 per bushel. This allowed the margin to expand a penny to $2.00 per bushel, which is 30 percent over the margin at this time last year.
Soybean, soybean meal and soybean oil prices continue to remain well supported relative to last year. Strong cash market gains and export demand have pushed soybean prices to levels not seen since May of 2016. Soybean prices are 31 percent over last year’s value, soybean oil is 33 percent stronger, and meal prices are up 29 percent relative to last…
11.15.2024
October soybean crush reaches all-time monthly high; biofuel demand limits rise in soybean oil stocks
The National Oilseed Processors Association (NOPA) reported the October soybean crush at a record monthly high of 199.9592 million bushels, eclipsing the previous record of 196.406 million bushels set...
11.15.2024
UCO 2025 market clouded by China’s cancellation of export rebate
China will cancel its current 13% export tax rebate for used cooking oil (UCO), a key biofuel feedstock, effective December 1, the country’s Ministry of Finance and the State...
11.15.2024
US animal protein prices steady to firmer week on week; SBM under pressure
The US animal proteins market was steady to higher in the week to Friday November 15. Even with decreases in Chicago Board of Trade (CBOT) soybean meal futures, prices...