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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04.29.2024
Strong domestic biodiesel margins support rising crude glycerin inventory
Crude glycerin prices are holding steady to slightly lower in the week to Monday April 29, with improved biodiesel margins helping to keep the supply of glycerin strong.
04.29.2024
Gulf tallow prices higher; optimism builds for higher demand for June
Tallow traded higher into the US Gulf market on Monday April 29, up to 41 cents per lb delivered. Outside of the Gulf market, trading was quiet with sources...
04.29.2024
Animal protein prices steady at start of the week
US animal proteins were steady on Monday April 29. Limited trade was reported, with multiple market participants are expected to attend the Petfood Forum in Kansas City, Missouri, this...