Organic soybean meal prices that are imported into the U.S. continue to remain buoyed. The underlying issue is a function of shipping costs, which have steadily increased over the past 2-months. Shipping rates increased substantially from $120 per metric ton from India to Baltimore to nearly $180 per metric ton in Q1. Merchandisers tell The Jacobsen that organic soybean meal customs cleared and transloaded are near $825 per short ton in Baltimore. This scenario puts prices closer to the $850 level delivered in Pennsylvania. Prices of imported organic soybean meal are nearly as high at $900 per short-ton. Domestic soybean meal prices are lower, making it more attractive if for those who do not need protein content as high as 48%. The…
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...