The April World Agriculture Supply and Demand Estimates (WASDE) released by the USDA showed somewhat significant changes for corn, moderate adjustments for wheat, and minor changes in the soybean balance sheets. Ending stocks for corn were lowered 10 percent, or 150 million bushels, to 1.352 billion bushels. This this lowered the corn stock to use ratio to 9.2 percent, matching the lowest past stock to use ration since 2013. As a result, corn prices are at their highest level since 2013. One thing a low ratio generally causes is increased volatility within the market. Corn use for ethanol production was increased by 25 million bushels to 4.975 billion bushels. Feed and residual use was increased 50 million bushels and exports were forecast 75 million higher to 2.675 billion bushels.
Soybean projected stock levels were unchanged at 120 million…
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.