Grains prices recovered ground lost the week prior.  Low stocks for corn and beans will continue to ensure volatility remains high as South America works through harvest and weather concerns.  Export demand remains strong, especially out of China.  The US Ag Dept confirmed additional corn sales to Mexico and Japan.  Soybean meal continues to attract strong export demand.  Analysts expect the USDA to report US processors crushed about 193.9 million bushels of soybeans in December, which would be in line with NOPA’s reporting of 183.2 million bushels.  NOPA members comprise close to 95 percent of the market.
Co-product prices pushed higher to begin the week.  DDGS values continue to rise as reduced ethanol demand keeps supply lower than normal while demand remains quite strong.  Wheat Midd values are also pressing higher in Minneapolis, but stable in KC and Buffalo.
04.22.2024
Animal fats and oils commentary: CWG prices fall on pressure from DCO
Steady slaughter levels, lower prices into the US Gulf for all feedstocks and lower prices for distillers’ corn oil (DCO) in the Midwestern markets have all weighed on the...
04.22.2024
Cattle slaughter more in line with 2023 as May nears
US cattle slaughter
Fastmarkets research forecasts cattle slaughter at 625,000 head in the week to Saturday April 27, less than half a percent lower than the same period in...
04.22.2024
Central Illinois soybean crush margins hit 5-week high
DDG prices remained steady in all regions on Monday April 22. Market sources said demand remains flat, and reported steady values that align with current price ranges.