The estimated crush margin narrowed 4.6 percent over the week, consolidating slightly lower after running higher three of the past four weeks. In Central IL, soybean costs increased 27 cents per bushel and meal pricing declined $3.60 per ton. Soybean oil values managed to keep reaching higher, climbing more than two cents per pound. Each 60-pound bushel of soybeans is crushed into about 46.5 pounds of meal and nearly 12 pounds of oil. Soybean oil prices moved to its highest closing level since 2012. Despite the lofty price for soybean oil, the move was not enough to offset both the rise in soybean cost and weaker revenue stream from meal. The value received from oil and meal sales per bushel of soybeans crushed advanced from $16.13 per bushel to $16.31, while soybean prices slipped from $14.34 to $14.61 cents…
05.03.2024
Biodiesel imports fall to 8-month low in March; exports rise to 3-month high
Biodiesel imported into the US fell in March for the first time in four months while biodiesel exported from the US reached a three-month high.
Import demand from...
05.03.2024
BFT, soybean oil weekly average prices tumble
For the week to Friday, prices were broadly lower compared with the prior week’s average. Packer bleachable fancy tallow was down by 2.2% from the prior week’s average on...
05.03.2024
US animal protein prices remain under pressure; soymeal rises
US animal protein prices were mixed in the week to Friday May 3 but showed no large movements, with multiple market participants traveling for the Petfood Forum in Kansas...