CME grain prices shifted higher across the board on Friday. May soymeal increased by $8.80/st and closed at $344.40/st. May soybeans increased by $0.1475 and settled at $11.74/bu. Furthermore, May corn futures rose $0.0675 to $4.35/bu, and May wheat increased by $0.0425 to $5.56/bu. After Conab revealed lower corn and soybean production estimates than what was previously projected by USDA, grain prices ended the week on a positive note. This led to a wave of technical buying, especially for soybeans which captured double-digit gains.
Weekly Export Sales – Released April 11, 2024
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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...