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.
…
05.03.2024
Biodiesel imports fall to 8-month low in March; exports rise to 3-month high
Biodiesel imported into the US fell in March for the first time in four months while biodiesel exported from the US reached a three-month high.
Import demand from...
05.03.2024
BFT, soybean oil weekly average prices tumble
For the week to Friday, prices were broadly lower compared with the prior week’s average. Packer bleachable fancy tallow was down by 2.2% from the prior week’s average on...
05.03.2024
US animal protein prices remain under pressure; soymeal rises
US animal protein prices were mixed in the week to Friday May 3 but showed no large movements, with multiple market participants traveling for the Petfood Forum in Kansas...