DDGS prices have increased in the Iowa market while other values remained steady on Monday. Market participants have commented that the cold weather had slowed down most ethanol plants in the area last week, which has tightened supply and this has pushed offers higher.
CME grain prices were higher on Monday. March wheat increased by $0.0325, closing at $5.96/bu, and March soybeans jumped by $0.11, settling at $12.24/bu. However in some spreading dynamics, March soymeal dropped by $0.70 to $355.80/st. March corn rose by $0.0025 to $4.45/bu. Corn prices showed minor gains as market players looked for new supply and demand trends. Soybean prices rose by double-digits following a round of technical buying influenced by rising crude oil prices. Additionally, sources suggested that soybeans were supported today by the recent news that Phillips 66 received approval to proceed with its renewable diesel plant in Rodeo, California.
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11.20.2024
Biodiesel supply tightens heading into the new year
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California UCO prices climb; DCO production eases slightly from record high
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US animal proteins steady; avian flu in birds increases in fourth quarter
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