Trading was quiet today with a number of sellers reluctant to offer into a market that is seeing May soybean oil trade over 62.5 cents and July futures over 60 cents. Corn prices jumped to $6.5050 for the May contract and $6.3150 for July. Using the May value, choice white grease at 400 percent of the price of corn has a value of 46.50 cents per pound in feed rations. The bullish tone in both the corn and soybean oil market combined with tighter hog slaughter may increase the reformulation threshold for the feed buyers heading into May. Biodiesel demand is offering support to the Missouri River market as well. The price of CWG FOB Missouri River is at 76 percent of the price of May soybean oil today, which is…
12.24.2024
Animal fats, oils markets quiet amid Christmas holiday
The US animal fats and oils markets remained steady on Tuesday December 24, amid limited trading due to the Christmas holidays.
Market sources expected activity to remain subdued...
12.24.2024
US November broiler, turkey slaughter down year on year
US animal protein prices were steady on Tuesday December 24, with limited volumes reported to have been traded. With the proximity of the end-of-year holidays, most market participants are...
12.24.2024
US weekly soybean, wheat export inspections rise, corn falls
Weekly export inspections
Export inspections of US grains showed a decline for corn but an increase for soybean and wheat in the week to December 19, according to data...