Weekly Recap – Grains Fall Sharply to Start Monday
Soybean futures continued higher last week, values advanced on a weekly basis for the fourth consecutive week and are up 13 percent for the period. Global supply continues to be a market concern. Rains in South America are helping to ease some of those worries and thoughts that Chinese demand may begin to abate are helping as well. Brazil recently announced they will allow imported soybeans and soybean oil for biodiesel production. This announcement could add to export interest. Soybean exports fell below analyst expectations last week, but the current crop year export pace is more than double last seasons. Soybean futures are at their highest levels since 2016, although futures are down considerably to start this week (down 20 cents per bushel at noon…
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...