04.24.2024
Biodiesel output strong in Q2; producers start locking in Q3-Q4 sales
A second producer echoed this sentiment and said they have had to work a bit harder to secure feedstock to line it up with sales at the right time.
Volatility in the markets was strong today, with March soybeans increasing 38₵, corn climbing 8 ½₵, wheat up 7 ¾₵, and soybean meal 17.10/ST higher on the day. Participants reported that declining crop production estimates for Brazil fueled the rally for the soybeans.
DDGs witnessed wider ranges in response to the heightened volatility, with price gains in several regions. Wheat midds remained generally flat, though higher pricing was witnessed in Buffalo with a $160-170/ST range.
Corn gluten feed and corn gluten meal saw varying price changes, as freight price adjustments continue to vary based on shipping methods. Some lower pricing was witnessed on trucking due to the increased values out of South America. However, heightened values were noted on CIF NOLA corn gluten meal with the board showing higher numbers.
Total Grains Inspected or Weighed for Export Down 20% YOY
Weekly grains inspected for export fell…