Commodity prices have been moving higher over the last several weeks in many agricultural areas. Both grain and oil values have been surging and many reaching multi-year highs in the process. Corn gluten feed is among those commodities spiking in price. A contributing factor in the recent price surge is a large producer rumored to be having production problems. The issue has caused the producer to pull their quotes from market, triggering a perceived shortage in supply.
Some other buyers and producers feel this a minor blip and not reflective of current market values. However, some of them are currently running low or are out of supply as well. One report indicates that when supply for them resumes they will likely be a seller in the lower $200 per ton…
11.21.2024
Domestic US biodiesel blending helps lift October RFS RIN production
US domestic biodiesel blending of 147.5 million gallons in October produced a monthly high of 221.2 million renewable identification number (RIN) credits for January-October. This was 11.5% above September...
11.21.2024
CWG trades lower as broader animal fats markets hold steady
The US animal fats and oils markets held steady on Thursday November 21, with limited trading as attention shifted toward broader macroeconomic factors and...
11.21.2024
October commercial cattle, hog production above 2023
US animal protein prices were steady on Thursday November 21. Limited trade was reported from market sources due to the proximity of the extended Thanksgiving holiday weekend in the...