05.15.2024
Soybean oil stocks fall with slowing April crush
The soybean crush totaled 166.034 million bushels, down by 15% from a record of 196.406 million bushels in March and down by 4% from 173.232 million bushels crushed in...
Ruminant MBM prices delivered into the AL/GA and Eastern markets jumped significantly yesterday. After a couple of relatively dormant weeks, prices caught up to the increases in the FOB Midwest market. At a high of $485, ruminant MBM has a relative price of 116 percent of the May soybean meal market at 106 percent of the price of SBM out of the Carolinas. The prior five-year average for Eastern MBM to nearby SBM is 106 percent, 10 points under the current market. Before the big growth in all-veg diets, the relative price routinely averaged well over 100 percent. The first quarters of 2012- 2016 averaged 110 percent, from 2017 – 2020 the average fell to 89 percent. Tight supplies have helped to push the market back…