Selling Across Ag Markets Weigh on Feed and Grain Prices
Oilseed and grain prices were mostly sharply lower on Thursday as a substantial decline in crude oil prices contributed to widespread selling in agricultural markets. However, fund liquidation of long oil share positions helped support soybean meal prices. Improving growing conditions in South America may have also contributed to the weakness in corn and soybean prices.
USDA released its weekly Export Sales report with data for the week ending March 18. Sales of old-crop corn totaled 4.48 million tonnes, above the upper end of market expectations ranging from 3.8 to 4.7 million tonnes. The total was well above last week’s total of 985,890 tonnes. Sales of new-crop corn totaled 144,600 tonnes, near the lower end of market expectations ranging from zero to 500,000 tonnes, but below the 240,876 tonnes sold last…
11.15.2024
October soybean crush reaches all-time monthly high; biofuel demand limits rise in soybean oil stocks
The National Oilseed Processors Association (NOPA) reported the October soybean crush at a record monthly high of 199.9592 million bushels, eclipsing the previous record of 196.406 million bushels set...
11.15.2024
UCO 2025 market clouded by China’s cancellation of export rebate
China will cancel its current 13% export tax rebate for used cooking oil (UCO), a key biofuel feedstock, effective December 1, the country’s Ministry of Finance and the State...
11.15.2024
US animal protein prices steady to firmer week on week; SBM under pressure
The US animal proteins market was steady to higher in the week to Friday November 15. Even with decreases in Chicago Board of Trade (CBOT) soybean meal futures, prices...