Market Update

CME grain pricing levels started out higher for most grains. Soybeans rose on the backs on soymeal and soyoil bouncing back from the previous week’s drops. Soymeal and soyoil rebounded on bargain buying amid worries over dryness El Nino could bring major producers Indonesia and Malaysia. Corn was higher by $0.1650 to $5.71/st with renewed demand expectations on the weekly inspected export report for the week. Soybeans were up by $0.3400 to $13.41/st while soymeal was firmer by $3.10 to $412.20/st and wheat increased by $0.0125 to $6.06/st.

Weekly Soy Values Drop; Softening Crush Margin

The estimated Central Illinois crush margin decreased week ending May 19^th, moving down week-on-week by 8.9 percent. Year-over-year crush margins remain under last year, last week by 40.7 percent from the respective week in 2022. As of last week, pricing for soy meal in Central ILL dropped to $417.20 per bushel, a 5.3 percent…