Higher Offers Mix with Futures Market Selloff for Quiet Day

Higher Offers Mix with Futures Market Selloff for Quiet Day

Trading was quiet today with higher offers mixing with lower prices at the CME. BFT was offered out at 71 cents Chicago, tech at 75 Chicago and CWG at 70 cents Chicago but trading was non-existent ahead of the daily close. September corn futures were down 11 ¾ cents per bushel, September soybean oil closed 1.33 cents per pound lower and September heating oil futures were off 5.2 cents per gallon, settling below $2.00/gal at $1.9690. RIN prices also moved lower for the day, further pressuring the biodiesel margins. Given the broad-based sell-off on a number of products, it’s reasonable to expect a quiet close to the week if offer prices remain elevated above…

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11.27.2023

Appeals Court Strikes Down EPA’s Denial of SREs

Appeals Court Strikes Down EPA’s Denial of SREs

*Please Note – Bob Lane was out of the office today and will return on Tuesday, November 28, 2023.

On November 22, a U.S. appeals court struck down a decision...

11.27.2023

Cattle Slaughter Forecast Lower to Close out 2023

Cattle Slaughter Forecast Lower to Close out 2023

The market was very quiet today coming off of the long holiday weekend. Most were getting their logistics and bid/offer ideas ready for the week and looking ahead to...

11.27.2023

Hog Slaughter Forecasted Above 2022 Into December

Hog Slaughter Forecasted Above 2022 Into December

Pressure on ruminant meat and bonemeal continues to be reported on accounts of excess offerings from slowed/diminished export trade. Participants communicated low $200s per short ton on ruminant meat...

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