Vegetable Oils & Animal Fat Prices Post Week on Week Drop
The market was fairly quiet today with traded volume slowing, but trading still done at lower levels. Gulf BFT traded down to 66 cts/lb delivered late yesterday. Ample nearby...
Sources reported one trade on DDGS today with a slight decrease in the MN/Dakotas price range. Market sources also reported that bids for DDGS appear to be getting lower as lower corn and soybean meal prices begin to impact feed prices.
CME grain pricing had a downward trend today. December corn decreased by $0.0475, falling to $4.71/bu. December wheat fell by $0.1300, dropping to $5.91/bu. November soybeans shifted down, with a decrease of $0.2350 and settling at $13.16/bu. Additionally, October soymeal prices fell by $3.20, reaching $390.40/st. The grains market is currently facing concerns regarding the economy and weather conditions. It is expected that the U.S. Fed will maintain high rates this week in an attempt to reduce demand to control inflation.
Weekly Soybean Crush