Based on the January World Agriculture Supply and Demand Estimates (WASDE) released by the USDA were uneventful. Last year the January WASDE caught the market by surprise. This year, saw minor balance sheet adjustments for grains. In response to the report coming out, soybeans and soymeal continued to climb upward with heightened support in the market. However, wheat and corn both saw loses today on the CME with minimal changes to the wheat supply and demand and a bearish call to the corn sector.
The global soybean supply and demand outlook for 2021/22 saw deeper cuts in supply than corn, but changes on U.S. balance sheets were mild. The soybean harvested area is estimated at 86.3 million acres, down 0.1 million acres from the previous report. Yield is estimated at 51.4 bushels per acre, up 0.2 bushels. This led to a 10-million-bushel increase in production to 4.435 billion. Supply for soybeans was raised 11 million…
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...