The non-GMO soybean meal market has been soft as merchandisers focus on the near calendar year. While bean premiums remain relatively elevated, close to $1.40 per bushel over conventionals, non-GMO soybean meal price is beginning to drift lower. Merchandisers tell The Jacobsen, that non-GMO soybean meal demand at dairies is starting to drift slightly lower. In contrast, demand from broiler and layers operation demand for non-GMO soybean meal remains solid. Non-GMO soybean meal prices are currently seen near $100-115 per short-ton over conventional.
The decline in non-GMO soybean meal premiums over conventional could make US domestic crushing of non-GMO soybean meal less attractive. Unfortunately, it’s also challenging to get a premium for non-GMO soybean oil. Merchandisers have told The Jacobsen that most non-GMO oil that is crushed is sold into the conventional market.
04.30.2024
Biofuel feedstock demand rises while capacity declines: EIA
EIA Biofuels Capacity and Feedstock Update
The Energy Information Administration’s (EIA) Monthly Biofuels Capacity and Feedstocks Update, released on Tuesday April 30, showed that operable US biofuel capacity declined...
04.30.2024
Chicago edible tallow trades lower
The edible tallow price fell to 52 cents per lb Chicago basis on the afternoon of Tuesday April 30. Tallow trading was quiet outside of the edible tallow market.
04.30.2024
April animal protein values mixed month on month
US animal proteins prices were mostly steady on Tuesday April 30. Limited trade was again reported, with multiple market participants attending the Petfood Forum in Kansas City, Missouri, held...