Conventional Indian soybeans eased for a second consecutive week, and while mid-Week the price moved back above $1,000 per metric ton, the prompt contract settled for the week below the $1K level. Organic soybean meal is offered at $1,100 per metric ton FOB India. The latest FLC price The Jacobsen has heard is $6,300. This level would put prices above $300 per metric ton to get a container from India to Baltimore or Oakland. While prices are offered at very high levels, it appears that many consumers are willing to live with a hand-to-mouth inventory approach. Consumers tell The Jacobsen they are not ready to lock in elevated prices at these levels for more than a quarter at most.
For the second consecutive month in a row, grocery store retail sales were higher year over year. In May, grocery store retail sales increased to 66-billion for the month, the second-largest on record (only second to March 2020 when the…
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...