Based on the most recent reports, the price range for corn gluten meal in Illinois decreased and both Iowa and Midwest rail for corn gluten feed dropped. Market participants reported a softer tone for meal and feed and anticipate the price trend to be going down.
CME grain prices had an upwards trend on Tuesday. March wheat increased by $0.1375, closing at $6.10/bu, and March soybeans jumped by $0.03, settling at $12.48/bu. In addition, March soymeal dropped by $0.90 to $367.60/st. and March corn rose by $0.0425 to $4.59/bu. Grain prices rebounded from Monday’s slump after corn, wheat, and soybean prices benefited from some technical buying, especially for wheat. The favorable conditions in Argentina and the recent rainfall in Brazil, expected to boost yield potential, were also factors for the gains in soybeans and corn.
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12.24.2024
Animal fats, oils markets quiet amid Christmas holiday
The US animal fats and oils markets remained steady on Tuesday December 24, amid limited trading due to the Christmas holidays.
Market sources expected activity to remain subdued...
12.24.2024
US November broiler, turkey slaughter down year on year
US animal protein prices were steady on Tuesday December 24, with limited volumes reported to have been traded. With the proximity of the end-of-year holidays, most market participants are...
12.24.2024
US weekly soybean, wheat export inspections rise, corn falls
Weekly export inspections
Export inspections of US grains showed a decline for corn but an increase for soybean and wheat in the week to December 19, according to data...