Organic soybean meal trading activity appears slow, but this has not stopped the steady flow of imports entering the United States. While we believe prices are closer to the bottom than the top, we can see prices staying near current levels for some time. We do not anticipate a significant uptick in demand, and “higher for longer” interest rates keep liquidity out of the discretionary market.
The wildcard remains the SOE, generating a supply chain disruption, which could generate temporary price volatility, but weather always has the potential to upset markets as planting season arrives.
…
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...