Instability lingers for the CME agriculture market for Thursday with sanctions ramping up, looming over the global flow of commodities. Sanctions are expected to intensify the risk of shortages and perpetrate unsettled tones on daily trade movement.
May futures saw wheat up $0.2875, reversing course from yesterday to $10.98. Corn futures were higher by $0.2450/bu to $7.54, soybeans increased $0.1925/bu to $16.68, while soybean meal dropped $3.90/st to $474.10.
Weekly soybean export sales for the 2021/22 marketing year of 1,253.3 thousand metric tons (TMT) were 43.1 percent below last week’s sales and 10.7 percent under the prior four-week average of 1,402.8 TMT. There were 477 TMT in sales recorded for the 2022/23 crop season, lifting total sales to 1,730.2 TMT. Combined crop year sales were 44.2 percent lower than last week and were within the analyst estimates ranging from 1,100 to 2,500 TMT. 2021/22…
04.19.2024
Reduced March RIN production not leading to higher RIN Prices
Total March biofuel RIN production was 1.9 billion RINs, which was 6% below February and 15% below December’s RIN output of 2.25 billion. December had the largest monthly production...
04.19.2024
CWG, YG higher on week, UCO, DCO down again
The market was quiet heading into the weekend. Used cooking oil (UCO) traded in large volume into the Gulf at 40 cents per lb delivered in the truck market.
04.19.2024
Price pressure on ruminant and porcine items for the week
Sloppy markets were reported for porcine and ruminant items at the close of week ending Friday April 19.
Wide ranges were witnessed on porcine bloodmeal (BM), with a...