Recent reports indicate a drop in the price of corn gluten meal and corn gluten feed. Market participants have voiced concerns about the current production disruptions, which are possibly driving the market down. Other sources agree prices could potentially decline even more.
CME grain prices shifted higher across the board on Tuesday. March soymeal increased by $8.70 and closed at $363.00/st. March soybeans increased by $0.245 and settled at $12.18/bu. Furthermore, March corn futures rose $0.075 to $4.47/bu, and March wheat jumped by $0.12 to $6.05/bu. After hitting multi-year lows, corn and soybean prices rallied today, driven by a technical bounce, which prompted a wave of bargain buying. Wheat prices followed other commodities higher, capturing double-digit gains after a round of technical buying.
Weekly Grain Inspections
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11.12.2024
Glycerin prices seen supported by declining biodiesel margins
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Animal fats and oils prices stable amid losses in vegoil markets
"I think the big drop in soybean oil had everyone take a pause,” one source said.
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Meat and bonemeal, bloodmeal higher on active demand
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Porcine meat and bonemeal prices were steady to higher according to sources...