The estimated crush margin improved by nearly four percent in Central IL as lower soybean costs and increased soybean oil values combined to more than offset lower soybean meal prices. The value received from oil and meal sales per bushel of soybeans crushed advanced from $15.52 per bushel to $15.54, while soybean prices dipped from $13.85 to $13.80 cents per bushel. This allowed the margin to expand seven cents to $1.74 per bushel. The crush margin is 3.5 percent below the margin value at this time last year.
Soybean, soybean meal and soybean oil prices continue to remain well supported relative to last year. Strong cash market gains and export demand have helped to support the soybean complex in recent weeks. Soybean prices are 52.5 percent over last year’s value, soybean oil is 54 percent stronger, and meal prices are up 46 percent relative to last year.
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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...