Weekly Recap – DDGS Values Trade Beyond November Average
Soybean futures headed lower on a weekly basis for the first time in five weeks Brazilian soybean planting is 90 percent complete and rains in South America have been leading speculators to exit long holdings, which has reduced soybean price support with values facing strong resistance at $12 per bushel. Global supply remains concern while strong interest from China continued to show in the weekly export report. Despite China’s buying presence, overall soybean exports were at the low end of expectations in last week’s report. However, this season’s export pace is 102 percent over last seasons. Price resistance is seen at $11.61 (followed by 12.02) versus support at $11.25 for the January futures contract….
04.29.2024
Strong domestic biodiesel margins support rising crude glycerin inventory
Crude glycerin prices are holding steady to slightly lower in the week to Monday April 29, with improved biodiesel margins helping to keep the supply of glycerin strong.
04.29.2024
Gulf tallow prices higher; optimism builds for higher demand for June
Tallow traded higher into the US Gulf market on Monday April 29, up to 41 cents per lb delivered. Outside of the Gulf market, trading was quiet with sources...
04.29.2024
Animal protein prices steady at start of the week
US animal proteins were steady on Monday April 29. Limited trade was reported, with multiple market participants are expected to attend the Petfood Forum in Kansas City, Missouri, this...