US July corn futures closed limit up at the Chicago Board of Trade, settling 40 cents higher at $6.64½ per bushel. This comes on the heels of corn reaching a one-month low. Corn drew support from strong export numbers this week, notably for new-crop shipments of more than 224 million bushels; primarily to China.
Exports of corn have been strong all season, with 2020/21 sales more than 70 percent over the prior season. Today’s export report was enough to spur short-covering and a technical-buying bounce following the recent sell-off.
Weekly soybean export sales for the 2020/21 marketing year of 55.9 thousand metric tons (TMT) were 34 percent below last week’s total and 65 percent under the four-week average of 159 TMT. There were 248.3 TMT in sales…
04.18.2024
Total RFS blending falls in March, domestic biodiesel blending increases
The Environmental Protection Agency (EPA) reported 1.66 billion gallons of renewable fuel blended within the nation’s transportation fuel pool during March. Blending was six percent below February and...
04.18.2024
EU UCO premium to US continues to grow
The US animal fats and oils market was mostly quiet on Thursday April 18, with a handful of price changes reported. Choice white grease (CWG) into the Missouri River...
04.18.2024
Ruminant meat and bonemeal price pressure in most regions
Price pressure was reported on several regions for meat and bone meal, ruminant and porcine items. Market sources said buyer pushback and light demand, with exception to the pet...