Weekly Recap – Increased Ethanol Output Leads to Higher Weekly DDGS Supply
Soybean futures rallied more than four percent last week, erasing the two percent decline from the week prior. Strong export activity continues to underpin the soybean market. China, Mexico, and Egypt were all strong buyers of soybeans but some in the market are concerned China’s buying pace could slow. These concerns were not enough to limit price appreciation as exports of 1.5 million metric tons were at the high end of expectations. This season’s export pace is 130 percent above last season’s. Soybean futures are at their highest levels since 2016 with the harvest looking to conclude this week or next. More than 87 percent of the crop has been harvested, which is above the historical average…
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...