A rise in organic soybean meal imports could be the catalyst that drives price action during the balance of the marketing year. Rising and steady imports from Africa are expected to accelerate. A pivot in 2024 planting intentions to organic corn could reduce domestic supply for organic soybeans even further.
Africa has picked up where India left off, with total imports surging in Q1. It will be hard for domestic crushers to continue to operate in the black at current organic soybean oil prices, squeezing any profits out of the crush.
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11.21.2024
Domestic US biodiesel blending helps lift October RFS RIN production
US domestic biodiesel blending of 147.5 million gallons in October produced a monthly high of 221.2 million renewable identification number (RIN) credits for January-October. This was 11.5% above September...
11.21.2024
CWG trades lower as broader animal fats markets hold steady
The US animal fats and oils markets held steady on Thursday November 21, with limited trading as attention shifted toward broader macroeconomic factors and...
11.21.2024
October commercial cattle, hog production above 2023
US animal protein prices were steady on Thursday November 21. Limited trade was reported from market sources due to the proximity of the extended Thanksgiving holiday weekend in the...