As market participants begin to look at Q1 and Q2 values, organic corn prices relative to conventional prices, remain near their historical averages. The five-year spread average (OYC-CME) is $4.35, slightly above the current $4.10 spread level. Little activity in the organic corn arena has allowed the spread to edge lower as conventional corn prices have bounced around, setting the stage for a potential rally in the conventional corn space due to the high short positions reported on Friday by the CFTC.
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11.21.2024
Domestic US biodiesel blending helps lift October RFS RIN production
US domestic biodiesel blending of 147.5 million gallons in October produced a monthly high of 221.2 million renewable identification number (RIN) credits for January-October. This was 11.5% above September...
11.21.2024
CWG trades lower as broader animal fats markets hold steady
The US animal fats and oils markets held steady on Thursday November 21, with limited trading as attention shifted toward broader macroeconomic factors and...
11.21.2024
October commercial cattle, hog production above 2023
US animal protein prices were steady on Thursday November 21. Limited trade was reported from market sources due to the proximity of the extended Thanksgiving holiday weekend in the...