The estimated crush margin stretched higher on a weekly basis in Central IL, as both soybean oil and soybean meal prices reached multi-year highs. Soybean oil prices are trading at levels last seen 2014. The value received from oil and meal sales per bushel of soybeans crushed advanced from $13.36 per bushel to $14.06, easily outpacing the four percent climb in soybean prices that lifted values from $11.67 to $12.11 per bushel. This allowed the margin to expand 16 cents to $1.95 per bushel, 26 percent above the margin from 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 2014. Soybean prices are 29 percent over last year’s value, soybean oil is 22 percent stronger, and meal prices are up…
11.18.2024
EIA reduces US biomass-based diesel consumption forecast for 2024, 2025
The US Energy Information Administration’s (EIA) monthly Short-Term Energy Outlook (STEO) released on Wednesday November 13, reduced its 2024 and 2025 forecasts for the consumption biomass-based diesel (BBD). The...
11.18.2024
UCO prices rise to start week; December cattle slaughter expected to decline
Used cooking oil (UCO) prices edged higher in the US Gulf Coast on Monday November 18, amid an otherwise quiet start to the week...
11.18.2024
Missouri River, Texas Panhandle ruminant bloodmeal prices higher on active demand
US animal proteins were steady to higher on Monday November 18.
Bloodmeal demand was indicated as active by market sources, although some buyer hesitancy was reported. Ruminant bloodmeal...