The animal protein market was mostly steady today. Despite weakness in the milk markets and concerns about demand from the dairy sector in 2021, nearby blood meal prices moved higher this week. Ruminant blood meal prices FOB Missouri River finished the month of November with a relative price to nearby soybean meal of 208 percent, 20 points over the prior three year average and 5 points under the prior three year average. Soybean meal reversed a three day trend and current values are supportive of steady prices in the near term. The most dominant variable in the spot market right now…
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...