Soybean and soybean meal values continued higher on a weekly basis last week, rising three percent and five percent respectively on the CME. The soybean complex is trading at its highest level since 2014. The January WASDE report showed the stocks to use ration for soybeans dropped to 3.1 percent from 3.6 percent in December. This is the lowest stocks to use ratio since 2013. Last year the ratio was 13 percent. Tighter supplies make higher prices more likely and increase the volatility within the market. Expect prices to remain well supported with supply as low as it is. Prices are lower on Monday as profit takers are getting out of positions and the soybean harvest in Brazil moves forward. Speculators reduced their long exposure with money managers selling over 6,000 long contracts and adding more than 3,000 short…
11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
11.22.2024
Gulf prices average higher despite weeklong declines in SBO
For the week ended Friday November 22, packer bleachable fancy tallow (BFT) remained unchanged from the previous week’s average, while Gulf Coast-delivered tallow rose 2.7%, primarily...
11.22.2024
Bloodmeal largest price mover week on week; November cattle on feed higher
US animal protein prices were mixed to mostly higher for the week to Friday November 22, with only meat and bonemeal showing a slight price reduction due to tighter...