Organic corn prices remain heavy, and merchandisers are far from bullish. Prices continue to hover near $6 per bushel with plenty of corn still in bins ahead of what is expected to be a bumper crop. While the farmer is expected to store most of their corn that is currently not contracted for Q4 and Q1, there is the chance that prices could push below the $6 level. A push below this level might be the catalyst that eventually incents farmers to move away from organic corn and back to conventional corn. Organic corn prices have declined to the lowest ratio in the past 5-years relative to conventional corn. The ratio is now hovering near 1.6, below the lows seen in 2016 near 1.75. The breakdown in the ratio could generate interest to switch back to conventional corn.
…
11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
11.22.2024
Gulf prices average higher despite weeklong declines in SBO
For the week ended Friday November 22, packer bleachable fancy tallow (BFT) remained unchanged from the previous week’s average, while Gulf Coast-delivered tallow rose 2.7%, primarily...
11.22.2024
Bloodmeal largest price mover week on week; November cattle on feed higher
US animal protein prices were mixed to mostly higher for the week to Friday November 22, with only meat and bonemeal showing a slight price reduction due to tighter...