The estimated crush margin moved lower for a second consecutive week as co-product crushing revenue declined while soybean prices moved higher. The value received from oil and meal sales per bushel of soybeans crushed decreased from $16.09 per bushel to $16.05, while soybean prices increased from $12.81 to $12.83 cents per bushel. This allowed the margin to narrow $0.06 cents to $3.22 per bushel. The crush margin declined 1.9 percent from last week but is 110 percent above year ago levels.
Soybean, soybean meal, and soybean oil prices remain well supported and promoting strong margin potential for crushing. Tight supply and solid export demand have helped buoy the soybean complex. Demand from the food and fuel industries continues to underpin soybean oil values. Insufficient crushing and refining capacity are leading to new crushing facilities being announced. Soybean…
04.30.2024
Biofuel feedstock demand rises while capacity declines: EIA
EIA Biofuels Capacity and Feedstock Update
The Energy Information Administration’s (EIA) Monthly Biofuels Capacity and Feedstocks Update, released on Tuesday April 30, showed that operable US biofuel capacity declined...
04.30.2024
Chicago edible tallow trades lower
The edible tallow price fell to 52 cents per lb Chicago basis on the afternoon of Tuesday April 30. Tallow trading was quiet outside of the edible tallow market.
04.30.2024
April animal protein values mixed month on month
US animal proteins prices were mostly steady on Tuesday April 30. Limited trade was again reported, with multiple market participants attending the Petfood Forum in Kansas City, Missouri, held...