Conventional soybean markets surged on news of weather concerns in key soybean producing regions in Brazil. Fastmarkets reported yesterday that the July CME soybean futures contract hit a 4-month high, increasing by 33.75 cents per bushel to $12.48 per bu. Similarly, July soybean meal increased by $15.40 per ton to $387.60 per ton.
As conventional soybean markets rally, organic markets could trend higher as well. However, recently organic soybean oil prices have stagnated, tightening crush margins for domestic organic soybean crushers. Current markets are heavily focused on imports, but there are some significant end users that solely utilize domestic organic feed commodities.
…
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...