Corn Gluten Meal Prices Move Higher
Corn gluten meal prices pushed higher this week. The COVID pandemic has changed eating habits for many consumers. Prior to the pandemic, US consumers ate 51 percent of their meals outside the home. Since the pandemic the number had dwindled as low as five percent for a low. More specifically, shoppers began gravitating to more grain and oilseed related products, which has led to an increase in corn gluten demand.
Another factor supporting prices is reduced gasoline demand. With consumers driving less the demand for gasoline has fallen sharply, which has led to an equal reduction in the demand for ethanol, which is roughly 10 percent of the gasoline blend. One of the by-products from ethanol production is corn gluten…
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...